Time Warner Makes Pass at Endemol

Bids $1.4 billion for debt laden production company
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Endemol Group says it has been approached by Time Warner, which is interested in acquiring the financially troubled production company.

Published reports put Time Warner's bid at $1.4 billion. Time Warner declined to comment.

Endemol, which created Big Brother and Extreme Makeover: Home Edition, has about $3.8 billion in debt that it is trying to restructure.

‘We have received an approach from Time Warner which doesn't come as a surprise -- Endemol is performing well and is a highly attractive asset," The company said in a statement. "This doesn't change anything, we remain focused on reaching a solution with lenders. Those discussions continue to make good progress and we are confident that an agreement will put the business on a firm financial footing and strengthen Endemol's prospects for the future."