Endemol grabs stake in MoMedia
EmptyNEMI, Italy -- Television content producer Endemol has taken a 25% stake in British multimedia production company MoMedia, according to a statement released Tuesday by Mediaset, Endemol's parent company.
Despite the August lull in activity in Europe, the $30 million deal for MoMedia capped a busy day for Mediaset on Tuesday.
In addition to the indirect acquisition of MoMedia, Italian stock market regulator Consob revealed that the Abu Dhabi Investment Authority took a 2.1% stake in Mediaset, a deal worth around $220 million.
Although that deal makes the Abu Dhabi Investment Authority Mediaset's third leading shareholder, there is no indication that it is more than a strategic investment for the organization.
The MoMedia deal, however, adds more content capabilities for Holland-based Endemol, the creator of the "Big Brother" franchise and other reality programs. MoMedia produces multimedia content in 35 countries, including content for mobile phone and Internet service providers including Vodafone, T-Mobile, Yahoo and MSN.
It is the first major acquisition deal for Endemol since it was acquired by a Mediaset-led group in May.
MoMedia was founded by Lucas Bertrand and Mark Benmore, both former executives with World Wide Entertainment.