The sale for the Dutch-based superindie producer and distributor Endemol Shine Group has been called off.
First reported by Variety on Tuesday (Nov.6), sources with knowledge of the situation have confirmed that the move to sell has been suspended by Endemol Shine’s co-owners, Apollo Global Management and 21st Century Fox, each having a 50% stake in the company.
News first broke of Endemol Shine going up on the bidder’s block this past June. It was then reported that the MasterChef and Big Bounce Battle (pictured) producer could fetch between US$2.5 billion and $4 billion, including debt.
Both Fox and Apollo had reportedly agreed to sell their stakes if the right buyer came forward. However, with the sale halted, Disney will now acquire Fox’s stake in Endemol Shine when its deal to purchase part of the assets of the Rupert Murdoch-owned company closes, expected to take place early into 2019.
Over the course of the bid process, rumors swirled about what company would acquire the global producer-distributor, with several major players investigating the opportunity, including Endeavor, Banijay Group and ITV, which ruled out a bid in October.
Endemol Shine has a slew of companies around the world, in addition to its own regional outposts, producing scripted and unscripted content, and during last year alone, produced more than 800 productions in 79 territories.
With the sale process suspended, the question remains as to how much of a factor the asking price played in the end result; whether it was too high, or the final offers on the table, too low.