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Apollo Proposes Merger of Core Media, Endemol

Apollo Global Management is proposing a merger of its Core Media Group and Endemol, the TV production house behind “Big Brother,” a Wall Street Journal report said. Apollo owns about 30 percent of Endemol, and depending on the value put on Core, Apollo could emerge with control of the combined company if the deal goes through, Reuters wrote.

(Reuters) – Apollo Global Management LLC (APO.N) is proposing a merger of its Core Media Group and Endemol, the TV production house behind “Big Brother”, a Wall Street Journal report said.

Leon Black’s Apollo Global became one of the top shareholders in Endemol, after the private equity firm and a Dutch investment firm bought most of the debt from its lenders in March.

The potential transaction, which is in early stages of discussion, may also involve an investment by Peter Chernin, who owns Chernin Entertainment, the paper said, quoting people familiar with the situation.

Apollo owns about 30 percent of Endemol, and depending on the value put on Core, Apollo could emerge with control of the combined company if the deal goes through, the report said.

An Apollo Global spokesman declined to comment about the report to Reuters.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Muralikumar Anantharaman)