TV production companies Endemol, Core and Shine to merge as 21st Century Fox and Apollo agree deal
The TV production groups behind Big Brother, American Idol and MasterChef are to merge after Rupert Murdoch's 21st Century Fox and Apollo Global Management finalised a deal combining Endemol, Core and Shine.
The joint venture would see Fox and Apollo each owning 50 per cent of the new company with the group's businesses operating in more than 30 markets.
Financial terms of the deal were not disclosed but the deal is expected to be closed by the end of the year.
Reports name former BSkyB managing director of content, Sophie Turner Laing, as the group's chief executive with Just Spee, Endemol chief executive, and Alex Mahon, Shine Group chief, to step down in 2015.
600 scripted and reality TV shows are handled by the three companions, including Shine's MasterChef, The Biggest Loser and Minute to Win It, Endemol's Big Brother, WIpeout and Deal or No Deal, and Core's American Idol and So You Think You Can Dance.
The joint venture was first touted in May when Fox confirmed it had entered into a preliminary agreement with Apollo.