ArchivesTime 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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Time Warner offers to buy reality TV distributor, producer Endemol for €2 billion.
link to this story + posted Oct. 28, 2004 at 7:30 AM by Andy Dehnart
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