Time Warner Makes Revised Bid for Endemol

NEW YORK: Time Warner has revised its $1.3 billion bid for the Dutch entertainment powerhouse Endemol to an all-cash offer.

Time Warner’s previous offer of 1 billion euros ($1.3 billion) included debut. The bid was turned down by Endemol. The new offer for the firm, behind hits such as Big Brother, Deal or No Deal and Wipeout, is in cash.

“We remain focused on discussions with lenders and those have entered the final stages. We are confident a solution that puts the company on a firm financial footing is imminent,” said a spokesman for Endemol.