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Fox to form JV with Apollo Global Management
MUMBAI: 21st Century Fox has confirmed its intent to form a joint venture with funds managed by affiliates of Apollo Global Management consisting of Endemol, Shine Group and CORE Media Group.
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.
21st Century Fox had bought Shine Group from its founder Elisabeth Murdoch in 2011. Apollo owns a take in Endemol.