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Endemol Prepares to Restructure

Endemol Group and more than two-thirds of its lenders have reached an agreement regarding the restructuring of the company.In the coming weeks, Endemol and its lenders are expected to finalize a deal. According to Endemol, the company has continued to mak

In the coming weeks, Endemol and its lenders are expected to finalize a deal. According to Endemol, the company has continued to make significant progress over the past 12 months, outperforming budget in 2011 with year-on-year growth of approximately 10 percent.

“We are delighted that the majority of our lenders have in principle agreed to the proposed commercial restructuring terms and we can now enter into the final part of the process," says Marco Bassetti, global president, and Just Spee, chief financial officer, on behalf of the management board. "A solution that puts Endemol on a strong financial footing for the future is now imminent. Without the constraints of an onerous capital structure, we will be able to pursue exciting growth initiatives and build upon the solid progress that the group has made in 2011 as we focus on and develop the creative strategy which lies at the heart of our business."

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