Endemol, Makers of TV hits Deal or No Deal and Big Brother, targeted by Time Warner Inc

Endemol, Makers of TV hits Deal or No Deal and Big Brother, targeted by Time Warner Inc

Los Angeles — Time Warner Inc. has expressed its interest in acquiring the Dutch entertainment giant, Endemol, as announced by a reliable person who opted not to be named citing he was not authorized to speak in behalf of the deal. Endemol is behind the hit reality shows such as Deal or No Deal and Big Brother.

Time Warner Inc., New York based media powerhouse, has submitted its $1.4 billion or 1 billion euro bid to acquire Endemol. Charlie Gardner, Endemol’s spokesperson, has confirmed the deal Friday after earlier reports about the possible acquisition. Gardner said that Endemol has never thought of finding a buying as it is focused on its debt restructuring plan after the company was brought in 2007 by Goldman Sachs, mediaset of the Italian Prime Minister Silvio Berlusconi, and Cyrte, a Dutch private equity firm, at approximately $3.7 billion.

Garner added that the bid submitted by Time Warner is not yet binding and will be passed to the company’s lenders for further evaluation and deliberation. In an official statement from Endemol, the company said nothing will change and they will remain focused in finding the best solution for their lenders. Endemol is confident that the best decision will be made the soonest possible time.

Posted by Kade Quinn on Monday November 07 2011, 2:14 AM EST. Ref: Yahoo. All trademarks acknowledged. Filed under Entertainment. Comments and Trackbacks closed. Follow responses: RSS 2.0