Endemol NV, the Dutch producer of the “Big Brother” TV shows, won approval from lenders to waive its loan terms until February, two people with knowledge of the discussions said.
The agreement gives Amsterdam-based Endemol more time to restructure 2.8 billion euros ($3.6 billion) of debt, said the people, who declined to be identified because the talks are confidential. The waiver has been extended three times since September.
The company declined to comment on the waiver, reported earlier by Reuters.
Endemol this week received a $1.3 billion all-cash offer from Time Warner Inc. (TWX) It was taken over in 2007 by Mediaset Espana Comunicacion SA, Cyrte Fund II BV, Mediaset SpA (MS) and Goldman Sachs Group Inc.
To contact the reporter on this story: Maaike Noordhuis in Amsterdam at firstname.lastname@example.org