Time Warner Bids for Endemol

NEW YORK: Time Warner has reportedly made a bid to acquire the Dutch entertainment behemoth Endemol for 1 billion euros.

Endemol is behind global hits such as Big Brother and Deal or No Deal. While Time Warner has not yet commented on the bid, Endemol has confirmed that it was approached by the U.S. media giant.

"We have received an approach from Time Warner which doesn’t come as a surprise," said a spokesman for Endemol. "This doesn’t change anything. We remain focused on reaching a solution with lenders. We are confident that an agreement will put the business on a firm financial footing and strengthen Endemol’s prospects for the future."