Eyeworks Goes It Alone
'Biggest Loser' production giant spurns suitors.
COLOGNE, Germany - Dutch production giant Eyeworks - creator of The Biggest Loser and numerous other reality and fictional formats - has decided to stay independent, rejecting offers from a number of international investors. Eyeworks founder and CEO Reinout Oerlemans said the decision followed a strategic review led by Goldman Sachs and comes amid aggressive consolidation in the European media industry.
Eyeworks is coming off a record year. The company booked net profits of $18.2 million (€12.3 million) on a turnover of $322 million (€217 million), the best fiscal result in Eyeworks' ten-year history. The group, which operates production offices in 17 countries, has beefed up its U.S. operation with ABC's commission of its new format Obese and is expanding its feature film division. Next month Eyeworks New Zealand and Olympus Pictures will begin production on Andrew Adamson's Mr. Pip starring House headliner Hugh Laurie. Closer to home, Eyeworks' Dutch-language comedy New Kids Turbo has become a surprise hit across the border in Germany, where it earned $2.4 million in its opening weekend.