Rupert Murdoch's Shine, Endemol and ITV are among companies positioning themselves as broadcasting consolidates
Rupert Murdoch's bold attempt to create one of the world's largest TV production businesses is the latest offensive in an increasingly frenetic battle of the media giants to control the hearts, and pockets, of viewers. Murdoch's Shine Group, maker of shows including MasterChef, will become part of a $2bn-plus joint venture that includes equity group Apollo Global's Endemol and American Idol maker Core Media.
Endemol, responsible for hits including Big Brother and Deal Or No Deal, is by far the largest of the three with revenues just over £1bn. Shine makes about £510m. This would indicate Fox will have to make a significant investment to take a 50% stake. However according to one person familiar with the talks, which have been going on for well over a year, this is not the case due to the huge debt pile Apollo is carrying into the deal.
Continue reading... Reported by guardian.co.uk 15 hours ago.
Rupert Murdoch's bold attempt to create one of the world's largest TV production businesses is the latest offensive in an increasingly frenetic battle of the media giants to control the hearts, and pockets, of viewers. Murdoch's Shine Group, maker of shows including MasterChef, will become part of a $2bn-plus joint venture that includes equity group Apollo Global's Endemol and American Idol maker Core Media.
Endemol, responsible for hits including Big Brother and Deal Or No Deal, is by far the largest of the three with revenues just over £1bn. Shine makes about £510m. This would indicate Fox will have to make a significant investment to take a 50% stake. However according to one person familiar with the talks, which have been going on for well over a year, this is not the case due to the huge debt pile Apollo is carrying into the deal.
Continue reading... Reported by guardian.co.uk 15 hours ago.