Big Brother considers Dutch assets of SBS
JON de Mol, the billionaire behind the Big Brother concept, has made an approach to buy the Dutch television and magazine assets of SBS Broadcasting.
The move comes as the European television and radio giant, with 37 television channels and 11 radio networks, holds a special meeting on Monday to agree its E1.7bn ($2bn, £1.1bn) public to private sale to venture capital firms Permira and Kohlberg Kravis Roberts.
De Mol is keen to buy SBS Netherlands, which owns three TV channels and Holland’s largest TV listings magazine.
SBS Netherlands is jointly owned by SBS Holdings, which has a 63% stake in the business; De Telegraaf Holding, Holland’s largest newspaper group, which has 27%; and another media group which owns 10%.
Monday’s change in ownership in the parent company, SBS Holdings, triggers a “call” on its stake in SBS Netherlands where Telegraaf Holding is able to exercise an option to buy SBS’s 63%. While there is no time pressure, sources say executives at Tele-graaf will decide this weekend whether to exercise this option or swap it for a stake in SBS Holdings.
Sources suggest discussions between the two groups indicate Telegraaf feels there is more value in owning shares in SBS Broadcasting, which has become one of Europe’s fastest-growing broadcasting groups. Holland’s media ownership rules means Telegraaf will have competition problems if it exercises its “call” and would have to sell on most of the TV and magazine assets.
De Mol wants to buy them. His Talpa Holding company has held talks with Telegraaf Holdings.
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