Jennifer Lopez sealed the deal back in April, and she's been working on big things.
According to The Source, NUVOtv has purchased cable television channel and media network FUSE for $226 million.
Lopez currently serves as NUVOtv's chief creative director. She also owns an estimated $2 to $3 million dollar stake in the network.
The magazine's site also reports the Madison Square Garden Company that sold FUSE still owns a 15 percent equity in the company. The amount can change depending on the network's performance in the future.
It is expected that the acquisition of FUSE will more than triple NUVO's reach. NUVO currently boasts a pay-TV audience of 34 million.
FUSE reaches 73 million households.
Lopez reportedly has wasted no time getting down to business, heading up development on shows like "A Step Away" and "The Collective."
According to MultiChannel, Lopez and NUVO are wrapping up a docuseries about soccer and immigration enetitled Los Jets.
The series follows a former investigative reporter, Paul Cuadros, who gave up his career as a journalist to mentor and coach a primarily Latino-only high school soccer team in Siler City, North Carolina.
The six-part mini-series broken into 30-minute episodes, will air its final episode Wednesday, Aug. 20.
It has been reported that the network promoted Los Jets as the first series to be part of NUVOtv's fledgling Nu America franchise.
"We are pleased with the overwhelmingly positive response by the financial community and other stakeholders to this transaction," SiTV, parent company of NUVO, CEO Michael Schwimmer said in a statement. "It is confirmation of the value we recognized in Fuse and our growth plans."
What do you think of Jennifer Lopez acquisition of FUSE and expanding NUVOtv? Sound off in the comment section below.
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