Time Warner Inc has made a non-binding offer for debt-burdened Dutch TV production company Endemol, a spokesman for Endemol said on Friday.The offer for the "Big Brother" TV show maker should not come as a surprise as it is performing well and is a highly attractive asset, the spokesman said.Endemol is in the process of restructuring its 2.8 billion euros ($3.8 billion) of loans after failing to meet banking covenants. Lenders have agreed to waive this covenant breach until mid-November.The approach "does not change anything. Our main focus is on reaching a solution with lenders. Those discussions continue to make good progress and we are confident that an agreement would put the business on a firm financial footing," said Charlie Armitstead, an external spokesman for Endemol.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.55% or $-0.19/share to $34.21. In the past year, the shares have traded as low as $27.62 and as high as $38.62. On average, 10221000 shares of TWX exchange hands on a given day and today's volume is recorded at 3583400.
