21st Century Fox and Apollo Global Management today announced they have completed transaction of merging Endemol, Shine Group and CORE Media.The newly created joint venture, of which 21at Century Fox and Apollo both will each own 50%, will initially operate under the name Endemol Shine Group beginning January 1.
Fox and Apollo also announced more members of the team that will lead the new company under Sophie Turner Laing and Endemol’s Tim Hincks who had been previously appointed as CEO and president, respectively.
As expected, Endemol is the leading entity in the merger, with two other top Endemol executives joining Hincks in the executive suite of the new company. Endemol’s Chief Financial Officer, Edwin van Es, will take up the same role within the new group. Meanwhile, Shine’s Finance Director Tom Fussell will step down next year after working with Van Es on the transition. Boudewijn Beusmans, Chief Legal and Business Affairs Officer at Endemol, has been named Endemol Shine Group’s Group Commercial Officer.
On the international sales and distribution side, Shine International and Endemol Worldwide Distribution are being merged under Cathy Payne, currently CEO of Endemol Worldwide Distribution, who will serve as CEO of the newly integrated operation. Shine International CEO Nadine Nohr will step down after the transition.
Shine’s Chairman, Northern Europe and Shine 360, Gary Carter and Endemol’s Chief Operating Officer Martha Brass will lead together the joint venture’s Internatioanl Operatios as division Co-CEOs. Carter will oversee Germany, Austria, Switzerland, the Nordics, the Netherlands, Belgium, Russia, Central and Eastern Europe, the MENA region, Turkey and South Africa; while Brass will cover France, Italy, Spain, Portugal, Australia, India, China, South-East Asia, Latin America and Israel.
The new company also is keeping the top PR executives from Endemol and Shine, with Shine’s Director of Communications Patrick Keegan and Endemol’s Global Head of Public Relations Charlie Gardner being appointed as Endemol Shine Group’s Co-Directors of Marketing and Communications. Keegan will be based in London and Gardner will be relocating to Los Angeles in early 2015.
The next stage in the merger is setting up teams in the markets where both Endemol and Shine have operations.
In the U.S., Endemol’s Charlie Corwin and Cris Abrego already have been named Co-Chairmen and Co-CEOs of the new joint venture’s North American operations, while Shine’s Rich Ross exited. Also as previously announced, Peter Hurwitz will serve as President of CORE Media and Scott Frosch will serve as Chief Financial Officer of CORE Media. CORE Media’s TV development team continues to be led by Jen O’Connell.
There is more integration to be done as both Endemol and Shine have unscripted and scripted teams. Laing recently came to Los Angeles to meet with executives, with a decision who will stay on expected in the coming weeks.
Two other markets, France and Germany, have completed this process.
In Germany, Endemol Germany Managing Director Marcus Wolter will lead the combined businesses of Endemol and Shine, as CEO of Endemol Shine Germany. Joining Wolter in the senior management team will be Shine Germany Deputy CEO Holger Rettler, who will become Director of ‘Show’, a new label within Endemol Shine Germany that will produce some of the new company’s biggest entertainment series. Axel Kuehn, CEO of Shine Germany, will leave the business after a period of transition in early 2015.
In France, Endemol’s and Shine’s operations will remain independently operated and run as separate entities, led by Endemol’s Nicolas Coppermann and Shine’s Thierry Lachkar, who will each continue in their role as CEO of their respective businesses.