MUMBAI: Italian broadcaster Mediaset, founded by former Premier Silvio Berlusconi, has sold its six per cent stake in television format creator and distributor Endemol.

"Mediaset Espa?a announced that it has sold its entire share in Endemol?s senior debt, which currently accounted for 4.2 per cent of the total of that debt," the group said Mediaset owned a third of the company in consortium with Goldman Sachs and Cyrte Investments. It was left with 6 per cent of Endemol?s senior debt after the restructuring deal.

MUMBAI: US media conglomerate Time Warner is believed to be looking at buying television format creator and executive producer Endemol.

Reports indicate that it is bidding $1.4 billion for Endemol which makes and markets formats like ?Big Brother?.

Endemol is looking to re-organise 2.8 billion euros in debt.

However, there is also talk that Endemol might reject offers. Endemol is co-owned by Silvio Berlusconi?s Mediaset, Goldman Sachs? Capital Partners and Endemol founder John De Mol?s investment vehicle Cyrte.

Reports add that Mediaset has joined forces with Clessidra, an Italian private equity group, to buy Endemol.