Time Warner makes fresh Endemol bid

ROME -Time Warner has restored its interest for Endemol having a $1.3 billion all-cash offer, because the with debt Nederlander content giant makes its way into final countdown phase to achieve a contract with loan companies. Inside a statement, Endemol confirmed it's received "a modified offer from TW," and it has "passed it onto the loan companies." "We remain centered on our discussions with loan companies which have joined the ultimate stages. We're certain that an answer that puts the organization on the firm financial footing for future years has become imminent," the statement added. TW has suggested an exciting-cash, non-binding offer, as opposed to the combination of cash and debt that composed their previous offer for the similar amount. But based on sources, this new TW offer isn't likely to obtain a lot more traction with Endemol than their first offer. "The main focus for Endemol remains on capital restructuring," stated someone with close understanding from the situation. They noted that Endemol is outperforming budget the very first time in 5 years, so has seem prospects being an independent entity, and isn't likely to initiate a bidding process. Nevertheless, loan companies may rather choose the Time Warner cash offer. Mediaset, the Italo broadcasting giant controlled by Silvio Berlusconi, which already is the owner of one-third of Endemol and it has designed a rival offer for any majority stake, didn't have immediate discuss Monday. In 2007, a consortium composed of Mediaset, Goldman Sachs Capital Partners and Cyrte, an investment company by which Endemol co-founder John p Mol is really a minority investor, compensated some $3.5 billion for Telefonica's controlling stake in Endemol inside a three-way split. However they largely used utilized financial loans that now weigh heavily around the Nederlander unscripted TV giant most widely known for "Your Government," whose other formats include "Deal or No Deal" and "Extreme Transformation: Home Edition." Endemol is mired by some $3.7 billion indebted to creditors, including private equity finance funds Apollo Management, Centerbridge and Providence Equity Partners. The extended deadline with this capital restructuring is apparently tomorrow, 12 ,. 13. Mediaset and Italian equity fund Clessidra have apparently provided to inject $268 million in Endemol to boost their current 33% stake to 51%, with loan companies possessing the rest of the minority interests. Mediaset has apparently cautioned Endemol the results of the restructure may affect the companies' relationship, telling Endemol it meant to negotiate all existing contracts, too. Contact Nick Vivarelli at nvivarelli@gmail.com