Fox JV with Apollo
May 16, 2014
21st Century Fox has signed a deal with the private equity firm that controls Big Brother maker Endemol and American Idol parent Core Media Group.
The deal will see Shine Group, the maker of shows including MasterChef and The Biggest Loser, with Apollo Global Management’s TV production businesses merged as a joint venture.
Shine Group was founded by Murdoch’s daughter Elisabeth and acquired by News Corp in 2011.
21st Century Fox confirmed that it has “entered into a preliminary agreement”, although there are still a “number of conditions” before a deal can be finalised. “There can be no assurance that the proposed transaction will be completed,” the company said.
21st Century Fox and Apollo would jointly own and manage the new venture.