LOS ANGELES (AP) — Time Warner Inc. is making an unsolicited bid to acquire Endemol, the Dutch entertainment giant behind hit reality TV shows like “Big Brother” and “Deal or No Deal.”
Endemol spokesman Charlie Gardner confirmed the bid on Friday following earlier reports of the deal.
Gardner said the company had not been seeking a buyer and is focused on restructuring debt that was incurred when it was bought for around $3.6 billion in 2007 by Italian Premier Silvio Berlusconi’s Mediaset, Goldman Sachs and Dutch private equity firm Cyrte.
Gardner said that a non-binding bid submitted by Time Warner this week would be passed on to Endemol’s lenders.
A Time Warner spokesman was not immediately available for comment.