LONDON — U.S. venture capital group Apollo Global Management has won the battle for control of entertainment giant Endemol, according to a report in a Dutch business newspaper.
The Financieele Dagblad, quoting unnamed sources, reported that Apollo has reached a deal with Endemol’s creditors, including Royal Bank of Scotland and Goldman Sachs, to allow Apollo to take a majority stake.
It is understood that Endemol’s management would be supportive of such an outcome on the basis that it would achieve a sustainable capital structure.
Apollo owns Core Media, whose formats include “American Idol” and “So You Think You Can Dance,” and speculation has mounted that it would merge Endemol, whose TV shows include “Big Brother” and “Deal or No Deal,” and Core.
Investment company Dasym Investment Strategies, of which Endemol co-founder John De Mol is a minority shareholder, had also been trying to seize control of Endemol. It has now given up on that bid and may sell its 25% stake in Endemol to Apollo.