Endemol recruits media veteran as CEO

The private equity-backed media company has recruited Ynon Kreiz, who left Balderton Capital, a European venture firm, last year. Endemol’s banks are reportedly selling their €2.6bn loans at nearly a 20 percent discount.

Endemol, the producer of Big Brother, a reality TV show, has recruited Ynon Kreiz, a former partner at Balderton Capital, the European venture firm, according to a statement.

Endemol was bought last year for €3.1 billion ($4.8 billion) by a consortium of Goldman Sachs Capital Partners, Mediacinco, a media company part-owned by Silvio Berlusconi, the Italian prime minister, and Cyrte Investments, an investment firm set up by John de Mol, the co-founder of Endemol, and owned by Delta Lloyd Group, an asset manager.

Kreiz worked at Balderton from 2005 to 2007. Since 2003 he has worked as an investor in the media industry. Between 1997 and 2002 Kreiz was chairman and chief executive of Fox Kids Europe, which he co-founded with Haim Saban in October 1996.

The six banks, which financed the Endemol acquisition last year with €2.6 billion of debt are meeting with investors to syndicate the deal, according to Financial Times, a UK newspaper. They have agreed to sell the debt at slightly above 80 percent to face value, the FT said.