French media companies Vivendi SA and Banijay Group SAS are eyeing to acquire the U.S. production business of ProSiebenSat.1 Media SE's Red Arrow Studios International GmbH, Reuters reported, citing sources.
An unnamed private equity firm is also interested in an asset, which is estimated to have an enterprise value of more than €250 million, one source said.
Morgan Stanley is in charge of the sale process, which is accepting binding bids until the end of October.
ProSiebenSat wants to retain its German production operations, as well as digital outlet Studio71.
