MILAN, April 3 (Reuters) – Italy’s largest commercial
broadcaster Mediaset has sold its senior debt in reality
television show producer Endemol to one of the other debtholders
for about 72 million euros, business daily Il Sole-24 Ore said
on Tuesday without citing sources.
Mediaset’s parent company Fininvest had classified the
Endemol stake in its balance sheet last week as “available for
sale,” the paper noted.
Mediaset bought Endemol, creator of “Big Brother,” in 2007
with a group of financial buyers. The buyers saddled the company
with debt and, after a drop in earnings, Endemol failed to meet
the terms on the loans in 2011.
If converted to equity, the stake would equal about 6
percent of capital, the paper said.
A debt deal last month left Apollo Global Management LLC
as one of the company’s largest shareholders.
Mediaset could not immediately be reached for comment.
