Industrial Media, the production company behind ABC’s “American Idol” and TLC’s “90 Day Fiancé,” is exploring a sale that would value the company at close to $300 million, according to two people familiar with the situation.
Sony Pictures has expressed interest, the people said. The production company, which is jointly owned by an investor group that includes private equity firm Crestview Partners, BlackRock and United Talent Agency, is the latest studio seeking to take advantage of the huge appetite for content given the explosion of streaming services that has come to market.
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