RDF directors team with De Mol for £50m buyout bid

LONDON - The management of independent producer RDF Media is teaming with Endemol founder John de Mol to launch a £50m buyout of the company.

Shipwrecked: one of RDF's key programmes
Shipwrecked: one of RDF's key programmes

RDF Media's independent directors Richard Eyre, Maggie Carver and Tim Weller today announced that they have 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 Investments, which currently holds a 27.5% stake in RDF Media.

An acquisition of RDF Media would make the Big Brother creator one of the most powerful figures in UK television, with ownership of two of the biggest suppliers of TV shows in the UK - Endemol and RDF Media.

RDF Media said in a statement: "The offer discussions are nearing completion and a further announcement of a recommended offer of 120p per share is expected in the coming weeks.

"The board of RDF Media confirms this announcement has been made with the consent of the consortium. However, there is no certainty that a formal offer will be made for the company."

Among RDF Media's key shows are Wife Swap and Shipwrecked.

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