De Mol consortium buys RDF for £52m

LONDON - RDF Media, the independent producer behind shows such as Wife Swap, is to be sold to a consortium of its management and Endemol founder John de Mol for £52m.

Wife Swap: independent producer RDF to be sold for £52m
Wife Swap: independent producer RDF to be sold for £52m

Earlier this month, RDF Media's independent directors Richard Eyre, Maggie Carver and Tim Weller announced that they received a cash proposal for an offer of 120p per share for the company.

De Mol is fronting his part of the bid via his investment vehicle Cyrte, which currently holds a 27.5% stake in RDF Media.

Bidco is a newly incorporated private company formed by Dasym and the management team for the purpose of implementing the proposals. Dasym is managed by Cyrte.

Richard Eyre, chairman of RDF, said: "In this difficult economic environment and with an uncertain outlook for the sector and RDF's customers, the independent directors believe that the proposals represent satisfactory value for RDF shareholders, providing an immediate cash exit at a substantial premium to the recent market price."

Frank Botman, chief executive of Cyrte, said: "We believe RDF is a strong company, with high quality formats, experienced management and a complementary mix between content production and rights business."

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