MSG aims to make $300M in Fuse network sale

Fuse, the niche music network owned by MSG, is looking to fetch at least $300 million in a sale, leading at least one bidder to balk at the price tag, The Post has learned.

MSG Executive Chairman Jim Dolan is aiming high after Qatar-based new outfit Al Jazeera paid $500 million for Al Gore’s struggling cable channel, Current TV, in January, according to sources.

However, the Current TV deal was widely seen as an outlier.

The steep price was a way for Al Jazeera to gain a foothold in a foreign market where it had long struggled to gain distribution.

A more recent — and comparable sale — in March was CBS Corp.’s $100 million purchase of a 50 percent stake in the TV Guide Network from JPMorgan’s One Equity Partners unit. The network is co-owned by Lionsgate.

Fuse gets 9 cents a month per subscriber, and is distributed in 73.7 million homes, according to research firm Kagan. TV Guide is in 80.4 million.

Fuse’s full-year ad revenue is estimated at just $18.9 million, similar to Al Jazeera America, formerly Current TV, which is projected to take in $18 million in 2013.

TV Guide’s $73.7 million in ad revenue is several times larger, according to Kagan estimates.

In September, MSG hired JPMorgan to shop the channel after getting interest from potential buyers.

Several media companies have kicked the tires since then, while at least one has lost interest, according to sources.

CBS, which is looking to grow its cable entertainment portfolio, is considered a likely buyer for Fuse, although sources said it hasn’t made a move yet.

MSG declined comment.