Time Warner makes cash offer for Endemol
US media giant Time Warner has made a €1bn cash offer for Dutch television production house Endemol.
‘Time Warner has made a new offer without changing the price or the conditions,’ Endemol spokesman Charles Armistead is quoted as saying by news agency ANP.
Endemol rejected an earlier offer from Time Warner. Some two-thirds of the company is in the hands of Barclays Capital, Royal Bank of Scotland and a group of hedge funds. They have given the company until December 13 to decided how to deal with its €2.8bn debt package.
Endemol’s television formats include Big Brother and Deal or no Deal.
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