21st Century Fox, Apollo Finalize Pact for TV Venture

21st Century Fox and private-equity firm Apollo Global Management have formed a programming partnership that will combine three television production companies into one with the hopes of creating a global entertainment giant.

Under the terms of the joint venture, 21st Century Fox’s Shine Group and Apollo’s Endemol and Core Media will be merged. All three companies are primarily known for unscripted content. Core is a producer of Fox’s “American Idol.” Shine makes “The Biggest Loser” for NBC. Endemol’s shows include “Big Brother,” which airs on CBS. The terms of transaction weren’t disclosed but the entity has been valued at more than $2 billion, people familiar with the companies said. The deal, which had been in the works since spring, continues a trend of consolidation among unscripted production companies.