All3Media has dropped out of the running to buy rival production and distribution giant Endemol Shine, Variety has learned.
All3Media, jointly owned by Discovery and Liberty Global, had lately been running the numbers to see if the acquisition made sense. Liberty is building up a huge war chest, having gained approval to offload a raft of cable assets in Europe to Vodafone for $21.5 billion.
But the price tag that Endemol Shine’s owners, Disney and Apollo, have put on the business appears to remain a stumbling block for potential suitors, sources told Variety. Endemol Shine is said to still be looking for $2 billion, while the latest overture from All3Media was below that threshold.
Endemol Shine and All3Media both declined to comment.
Endemol has been on the sales block for at least a year and a half, and the likes of Endeavor Content, Fremantle, Lionsgate and Sony Pictures...
All3Media, jointly owned by Discovery and Liberty Global, had lately been running the numbers to see if the acquisition made sense. Liberty is building up a huge war chest, having gained approval to offload a raft of cable assets in Europe to Vodafone for $21.5 billion.
But the price tag that Endemol Shine’s owners, Disney and Apollo, have put on the business appears to remain a stumbling block for potential suitors, sources told Variety. Endemol Shine is said to still be looking for $2 billion, while the latest overture from All3Media was below that threshold.
Endemol Shine and All3Media both declined to comment.
Endemol has been on the sales block for at least a year and a half, and the likes of Endeavor Content, Fremantle, Lionsgate and Sony Pictures...
- 10/18/2019
- by Stewart Clarke and Cynthia Littleton
- Variety Film + TV
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