Mediaset Offloads Remaining Stake in Endemol

MILAN: Mediaset has agreed to sell its debt in Endemol, officially exiting the investment. 

The transaction is about 6 percent of the senior debt on the market, which is the remainder of its holdings. The deal is valued at approximately $96 million. The Italian commercial broadcasters purchased 33 percent of Endemol back in 2007 and last January got a debt-to-equity swap that reduced this holding.

The sales comes after the Dutch TV producer entered a debt restructure handed control of the company to creditors. 

“We’ve enjoyed a long commercial relationship with Mediaset,” said Charlie Armitstead, a spokesman for Endemol. “We’re confident that there continue to be lots of strong opportunities going forward and we can work together on a strong future collaboration.”