Hollywood studio 21st Century Fox and Apollo Global Management are in talks to form a landscape-changing TV joint venture.
The Rupert Murdoch-owned company issued a statement on Thursday, confirming that it has reached a preliminary agreement with the private equity firm to merge Fox’s Shine Group with Apollo-controlled producers Endemol and Core Media Group.
“21st Century Fox confirms its intent to form a joint venture with funds managed by affiliates of Apollo Global Management comprised of Endemol, Shine Group and Core Media Group,” the company said.
“The parties have entered into a preliminary agreement, subject to a number of conditions, which calls for 21st Century Fox and funds managed by affiliates of Apollo to jointly own and manage the new joint venture. There can be no assurance that the proposed transaction will be completed.”
No further details were provided, but the companies involved have digital content divisions, including Endemol Beyond and ChannelFlip. Core Media has also been making moves in the digital space with recently announced deals with Popsugar, and Howie Mandel.
The merger would effectively create a global super-indie that brings unscripted franchises MasterChef, The Biggest Loser, So You Think You Can Dance and American Idol under one roof.
If successful, the consolidation would be the latest in a string of high-profile mergers reshaping the unscripted television production landscape.
Last week, Discovery Communications and Liberty Global teamed up to acquire London-based producer All3Media in a US$930 million deal.
Earlier in May, media giant Viacom purchased British pubcaster Channel 5 for $757 million (pending regulatory approval) and Britain’s ITV bought Pawn Stars producer Leftfield Entertainment for $360 million.