Time Warner makes bid for Endemol

The bid values the international producer, which is currently working to restructure some €2.8 billion of debt, at €1 billion, according to reports.
November 4, 2011

Time Warner has made a bid for international producer Endemol, valuing the company at €1 billion (US$1.4 billion), according to reports.

The prodco is currently working on restructuring debts valued at approximately €2.8 billion (US$3.8 billion). Present shareholders for the Dutch-headquartered company include Italian prime minister Silvio Berlusconi’s Mediaset, Goldman Sachs Capital Partners and Dutch investment firm Cyrte Investments, established by Endemol founder John de Mol.

While not confirming the value of the bid, an Endemol spokesman said the offer did not come as a surprise to the company, as “Endemol is performing well and is a highly attractive asset.

“This doesn’t change anything; we remain focused on reaching a solution with lenders,” added the spokesman. “Those discussions continue to make good progress and we are confident that an agreement will put the business on a firm financial footing and strengthen Endemol’s prospects for the future.”

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