Endemol Shine Group, the production company co-owned by 21st Century Fox and Apollo Global Management, has hired Deutsche Bank and Liontree to seek a sale that may be worth $4 billion, according to reports.
Both Fox and Apollo have agreed to sell their stakes if a buyer is found, according to CNBC which first reported the news.
Sources familiar with the matter told CNBC that Fox has already passed up the right to buy all of Endemol, and had agreed to sell its 50% stake to Disney in December as part of its $52 billion sale.
Deadline reported earlier this year that UK broadcaster ITV would consider buying Endemol should a formal process for sale begin.
ESG is the producer of hit shows such as Black Mirror (pictured) and Masterchef. The company was formed by media companies Endemol, Shine Group and Core Media Group in 2014.