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Time Warner Makes Pass At Endemol

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."