Endemol Takes Controlling Stake in Surreal Life Producer

NEW YORK, April
2: Endemol has acquired a controlling interest in 51 Minds Entertainment, the
U.S. production outfit known for its hit VH1 reality series Flavor of Love, I Love New York and The Surreal Life.

The deal
extends Endemol’s reach in the U.S. market and adds 51 Minds’ library of
formats and completed shows to the Dutch giant’s catalogue.

51 Minds
Entertainment was created by the merger of Cris Abrego’s 51 Pictures and Mark
Cronin’s Mindless Entertainment. The company’s programming has helped catapult
VH1 to a top ten cable network, having delivered 20 series representing 11
different hit franchises that are the network’s highest-rated originals.

“This
acquisition is in line with our ongoing strategy for growth in nonscripted
television,” said Marco Bassetti, the COO of the Endemol Group. “51 Minds
Entertainment has made a name for itself by developing the kind of pioneering
content that Endemol has built its reputation on. Endemol will continue to look
for acquisitions, particularly in the area of digital media and advertiser
funded/branded content.”

“51 Minds
Entertainment is a very unique company, which has demonstrated the rare ability
to consistently deliver a high volume of hit shows,” added David Goldberg, the
president and CEO of Endemol USA. “This acquisition infuses the Endemol Group
with fresh content, expands the library and significantly increases our U.S.
market share. I look forward with great enthusiasm to working with Cris, Mark
and the 51 Minds team as we search for new ways to expand their already
impressive business.”

Following
Endemol’s acquisition, 51 Minds Entertainment will continue to operate out of
its offices in Los Angeles as an independent studio within Endemol USA.

—By Mansha
Daswani