Endemol to acquire Southern Star

Endemol announces it is to acquire Southern Star, Australia's largest independent television production and distribution group, from Fairfax Media. In this move, Endemol will wholly own Souther Star and its 14,000 hour library and significantly expand its third party distribution business. Hugh Marks will stay on as CEO of Southern Star Group and will report to Ynon Kreiz, Chairman and CEO of Endemol Group. The deal is conditional upon obtaining regulatory approvals, but is expected to go through during the first quarter of 2009. For more information see the release.