LONDON, Nov 4 (Reuters) - Time Warner Inc has made a non-binding offer for debt-burdened Dutch TV production company Endemol, a spokesman for Endemol said on Friday.
The offer for the “Big Brother” TV show maker does not come as a surprise as it is performing well and is a highly attractive asset, the spokesman said.
Endemol is in the process of restructuring its 2.8 billion euros ($3.8 billion) of loans after failing to meet banking covenants. Lenders have agreed to waive this covenant breach until mid-November.
The approach “does not change anything. Our main focus is on reaching a solution with lenders. Those discussions continue to make good progress and we are confident that an agreement would put the business on a firm financial footing,” said Charlie Armitstead, an external spokesman for Endemol.
The broadcaster is owned by Italian Prime Minister Silvio Berlusconi’s Mediaset , Goldman Sach’s Capital Partners and Endemol founder John de Mol’s investment vehicle Cyrte.