21st Century Fox, Apollo to Form JV for Endemol, Shine, CORE Merger

NEW YORK: 21st Century Fox says it is planning a joint venture with private-equity firm Apollo Global Management that would encompass Endemol, Shine Group and CORE Media Group.

In a statement, 21st Century Fox said the parties involved have entered a preliminary agreement for the JV, which would jointly own and manage the three production and distribution groups.

21st Century Fox acquired Shine Group from founder Elisabeth Murdoch in 2011. Apollo, which controls CORE Media, is a stakeholder in Endemol and has reportedly been looking to take full control of the company for the last several months.

“There can be no assurance that the proposed transaction will be completed,” the statement reads.

The move is part of a broader wave of consolidation taking place in the content business, as news of this joint venture comes just a week after Liberty Global and Discovery Communications announced the acquisition of all3media.