Sony Pictures TV to Acquire Industrial Media, Production Company Behind ‘American Idol,’ in $350 Million Deal

variety.com:

Todd Spangler NY Digital EditorSony Pictures Television sealed a deal to acquire Industrial Media, a major nonfiction TV production company whose portfolio includes “90 Day Fiancé,” “So You Think You Can Dance” and “American Idol.”The deal values Industrial Media at $350 million.

Upon closing, Sony Pictures will acquire a majority controlling interest in Industrial Media but the studio declined to reveal its ownership percentage.Industrial Media’s production shingles include 19 Entertainment, B17 Entertainment, House of NonFiction, Sharp Entertainment, the Intellectual Property Corporation (IPC), This Machine Filmworks, This Radicle Act and Trilogy Films.The company companies produce more than 100 programs distributed worldwide in genres including documentary, music competition and reality categories.

Those include the hit “90 Day Fiancé” franchise for TLC, “Indian Matchmaking” for Netflix, “We’re Here” for HBO, “The Curse of Von Dutch” and “The D’Amelio Show” for Hulu, “Secrets of Playboy” for A&E, “Selena+Chef” and “Craftopia” for HBO Max, “So You Think You Can Dance” for Fox, and “American Idol” for ABC (co-produced with 19 Entertainment).

All together, the Industrial Media group has about 100 employees in L.A., New York and Atlanta. SPT’s deal to buy the company is subject to customary closing conditions, including regulatory approvals.Eli Holzman, Industrial Media CEO and founder/CEO of IPC, will join Sony Pictures Television as president of nonfiction entertainment upon closing, reporting to Ravi Ahuja, chairman of global television studios and Sony Pictures Entertainment corporate development.