Dutch television production company Endemol is considering buying a stake in UK sports broadcaster Setanta, which was on the verge of administration last week.
The Financial Times reports that Endemol has scrapped an earlier plan to buy equal shares with Access Industries, which emerged as a “white knight” for Setanta on Friday with a £20 million offer for a 51-per-cent stake. Access Industries is owned by US-based Russian billionaire Len Blavatnik.
The offer led to the Setanta board making a £10 million part-payment of a £35 million installment due to the English Premier League under a rights deal. The FT reports that the Premier League then agreed to a rescheduling of the rest of the payment, according to people close to Setanta.
Of the Endemol offer, the FT quoted a source close to the discussions as saying, “Endemol was interested in going in with Access as equal partners and taking the whole thing out, but they may be less keen to be involved in holding a minority stake of Setanta.
“If that’s how it is going to pan out, then Endemol might want to take on some of Setanta’s production businesses, but not much else.”
