Time Warner comes to offer up to one billion euros in cash for Endemol, the Big Brother company. The indiscretion is from the Bloomberg agency.
The television production company, owner of numerous television formats around the world, confirms that it has received the new offer and has transferred it to the creditors. The negotiations would now have entered the final phase. Endemol was taken over in May 2007 by Mediacinco (Mediaset), by the Goldman Sachs bank and by the Cyrte fund of the founder, the Dutchman John De Mol and has to deal with debts of 2,8 billion euros (but it makes profits from operating).
Until now, Time Warner valued the entire company at a total of one billion, and proposed a debt assumption and a partial cash injection. A second offer was presented by Mediaset and Clessidra, and provides for a 200 million cash injection with the purchase of 51% of the company. However, the statement by Mediaset vice president Pier Silvio Berlusconi, which ruled out any intention of participating in an auction to entirely take over Endemol, was made on 24 November.
