Consortium in Big Brother firm buy-out

A consortium featuring former Italian prime minister Silvio Berlusconi unveiled a £2.3bn (€3.4bn) swoop for Big Brother maker Endemol today.

The buy-out group, which is also made up of Endemol founder John de Mol and Goldman Sachs, will pay €2.63bn for Spanish telecoms group Telefonica’s 75% stake in the company.

Mr Berlusconi is represented through Italian broadcaster Mediaset, in which he has a 36% stake.

The consortium has also pledged to purchase the remaining 25% stake in the firm at the first available opportunity.

Endemol also makes Deal Or No Deal, Ready Steady Cook and Comic Relief Does Fame Academy.