Time Warner is reportedly offering about €1 billion for Endemol in a deal that would involve the US media giant providing the producer and distributor with €100 million of working capital.
The Time Warner bid came to light late last week and followed news of another potential deal that would see existing Endemol shareholder and Italian broadcaster Mediaset and finance house Celssidra inject €200 million of working capital in return for a majority stake in the content company. Local press reported that Mediaset and Clessidra are eyeing re-launching a recapitalised Endemol as a way of averting existing creditors from converting debt into equity in the company.
Mediaset was part of a group including Goldman Sachs and a John de Mol investment vehicle that acquired Endemol for €2.8 billion in 2007.
Endemol is carrying about €2.8 billion of debt load and last week agreed a deal to postpone repayment terms until mid-November
StarTimes picks up French La Liga rights in sub-Saharan Africa digitaltveurope.com/2020/08/07/sta… https://t.co/VH54aRe2OV
07 August 2020 @ 17:00:01 UTC
KDDI taps VisualOn for 5G mobile video digitaltveurope.com/2020/08/07/kdd… https://t.co/sSekVCwug4
07 August 2020 @ 16:00:02 UTC
Mediapro makes first payment for top-tier French football digitaltveurope.com/2020/08/07/med…
07 August 2020 @ 15:00:02 UTC