Remember when Hollywood exes James Cameron (Avatar) and Kathryn Bigelow (The Hurt Locker) competed for Best Director at the 2009 Academy Awards, and how awkward that must have been for them? And when Bigelow took home the Oscar gold, how much that must have stung for James “Mr. Unfuckwitable at the Box Office” Cameron?

Well, the mogul formerly known as Diddy can now totally empathize with him.

After a behind-the-scenes bidding war, Jennifer Lopez beat out one-time significant other Sean “Puff Daddy” Combs to buy the music-focused Fuse TV from Madison Square Garden Co. and secure the network’s distribution rights for her own TV channel, NuvoTV. Lopez’s bid of $226 million and a 15-percent equity stake bested whatever Puffy offered for his own self-launched channel, Revolt. His offer? Around $200 million—cheapskate status, clearly.

Per the Bloomberg report, Lopez could pocket up to $50 million thanks to that agreed-upon 15-percent equity. A small consolation for Puff, though: French Montana will no doubt be a regular on NuvoTV.

[via Bloomberg]

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