Fuel TV still in talks with Viacom
Report said co. was in advanced negotiations to acquire netNEW YORK -- Fuel TV may be a better fit for Viacom rather than News Corp.'s cable networks unit.
The two parties are in talks about a sale of the action sports network to MTV, VH1, Nickelodeon, Spike and BET owner Viacom, but they aren't yet near completion as suggested in a Tuesday report by the SportsBusiness Journal.
The paper had said Viacom was in advanced negotiations to acquire the channel for a sum in the low to mid-nine figures, but sources said the talks haven't progressed that far yet.
Fuel TV is seen as being probably too niche for News Corp.'s cable roster and better fitting Viacom's portfolio of cable networks, including some with a young male-focused demographic similar to Fuel's.
News Corp. and Viacom declined to comment.
Talks began last year when the companies initially discussed a joint venture built around Fuel TV.