Latino-focused cable network NuvoTV has made an offer to purchase Madison Square Garden Co's Fuse TV for more than $200 million in cash and stock, Bloomberg reported, citing people with knowledge of the matter.The offer from NuvoTV, in which pop singer Jennifer Lopez owns a minority stake, pits her against former boyfriend Sean "Diddy" Combs, who made a bid of about $200 million for Fuse TV, a music TV network, earlier this week, Bloomberg reported. ()The Dolan family, which spun off Madison Square Garden from Cablevision Systems Corp four years ago, has been asking for about $400 million for Fuse, the report said, citing a person familiar with the matter.A spokeswoman for Madison Square Garden, Kimberly Kerns, said, "As we have stated, we are exploring strategic alternatives for Fuse, and will have no further comment during what is still an ongoing process."
Cablevision Systems Corporation (Cablevision), through its wholly owned subsidiary CSC Holdings, LLC (CSC Holdings, and collectively with Cablevision) and their subsidiaries operates in the United States based on the number of video customers. Shares of CVC remained unchanged at $17.00. In the past year, the shares have traded as low as $13.69 and as high as $20.16. On average, 3482850 shares of CVC exchange hands on a given day and today's volume is recorded at 0.
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