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Latest Satellite News Discussion, Mediaset, Clessidra joint swoop for Endemol at General Satellite News forum; Mediaset, Clessidra joint swoop for Endemol Mediaset has put in a joint bid for Endemol, the indebted Dutch TV producer ...

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Mediaset, Clessidra joint swoop for Endemol - 26-November-2011, 04:10

Mediaset, Clessidra joint swoop for Endemol



Mediaset has put in a joint bid for Endemol, the indebted Dutch TV producer behind Big Brother, together with Clessidra, the Italian private equity group. Mediaset already owns approximately one-third of Endemol.

A deal could still be months away as Endemol is going through a large restructuring of its 2.8 billion net debt following a breach of banking covenants. The company is considering a debt-for-equity swap and lenders are understood to prefer selling the company after the restructuring of its debt.

Earlier this month, Time Warner, the US media group, made an approach worth about 1 billion setting up a debate among creditors over whether to sell the troubled investment or continue with the plans for the debt restructuring.



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