It’s not personal, it’s business.

Former lovers Jennifer Lopez and Sean “Diddy” Combs are competing for Madison Square Garden’s Fuse TV, according to sources.

NuvoTV, an English-language cable channel for Latinos backed by Lopez, made an offer for the Fuse cable channel, including cash and equity valued at more than $200 million, sources said. Combs has offered to buy the channel for about $200 million, according to reports.

The bid makes rivals of the music moguls and former sweethearts, who dated more than a decade ago. Each wants to buy Fuse to gain distribution to 74 million homes.

All parties involved declined to comment.