The hip-hop mogul is said to have made a bid to buy Fuse, a music channel owned by
The bid comes after Combs launched his own music cable network Revolt TV last year. If Combs is successful in his efforts to acquire Fuse, he would most likely replace it with Revolt. Fuse is in over 70 million homes, while Revolt, which only launched last fall, is in a fraction of that.
The rap star offered $200 million for Fuse, according to Bloomberg News. That is far less than the more than $300 million that New York-based MSG sought when it put the music cable channel up for a possible sale last year, a former Fuse executive said.
A representative for Revolt TV declined to comment. An MSG spokesman 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."
Combs came to prominence in the 1990s as a rapper under the name "Puff Daddy." He founded the Bad Boy record label and has an estimated net worth of $580 million, according to Forbes. His other business ventures include liquor and clothing lines.
He launched Revolt TV in October as an attempt to revive music television for younger TV viewers who can't get music on
MSG also owns venues including
Times staff reporter Joe Flint contributed to this report.