‘Endemol reaches deal with creditors’

Television production company Endemol appears to have reached a deal with its creditors over its debt of €2.8bn, the NRC reports on Friday.

The paper says two investors – Cyrte Investments and hedge fund Apollo – have agreed to take over debt owned by other creditors and convert it into shares, making them majority shareholders in the group.
The paper bases its claims on an interview with Cyrte’s director Frank Botman. Two other minor shareholders, Mediaset and Goldman Sachs, will remain minority shareholders, the paper says.
Endemol’s television formats include Big Brother and Deal or no Deal. The debt stems from 2007 when Cyrte and other investors delisted Endemol.

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