Sony in Talks to Buy ‘American Idol’ Production Company

Industrial Media, the production company behind ABC’s “American Idol” and TLC’s “90 Day Fiancé,” is exploring a sale and Sony Pictures has expressed interest, according to two people familiar with the situation.

A deal could value the production company at as much as $300 million, the people said. Industrial Media, 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.