Time Warner offers to buy reality TV distributor, producer Endemol for €2 billion.

Time Warner offers to buy reality TV distributor, producer Endemol for €2 billion.
One sure sign that reality TV is about to die: a huge media conglomerate tries to buy one of the world’s preeminent reality show production companies. Time Warner has offered €2 billion for Endemol, the company responsible for creating shows such as Big Brother and Changing Rooms. That’s about $2.5 billion in US dollars. Netherlands-headquartered Endemol licenses its reality shows in 21 geographical regions, and is currently owned by Spanish conglomerate Telefonica. As The Independent reports, “A price tag of about 2bn would force the Spanish telecomscompany to take a massive loss on Endemol, which it purchased for £3.5bn in 2000, when valuations of media companies were hugely inflated.” However, Telefonica is looking to unload the company: “Last December Endemol’s co-founder, Jon De Mol, was ousted and replaced by a Telefonica insider, Joaquin Agut, in a move widely seen as preparation for a sale.”

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