German broadcaster RTL has withdrawn its interest in buying Endemol Shine as it focuses on growth initiatives such as building mass-audience VOD services and expanding FremantleMedia’s drama output.
The FremantleMedia-owner revealed that it had dropped out of the race to purchase Endemol Shine, according to Reuters.
“On Endemol Shine, we stepped out of the process,” CEO Bert Habets said. “At Fremantle, we focus on expanding our scripted output – and we are very successful in doing so. We aim to grow the business going forward in the scripted and unscripted domain by small-and medium-sized acquisitions.”
The news arrives after Endemol Shine owners Apollo Global and Twenty-First Century Fox put the Big Brother creator up for sale in July for €2.5-4 billion (US$2.9-4.64 billion).
Deadline revealed in April that other interested parties include ITV, Liberty Global and Vivendi.
RTL reported strong earnings for Q2, with revenue up by 3.6% year-on-year to €1.63 billion, mainly driven by digital and FremantleMedia.
Habets said during that call that FremantleMedia is “seeking funding for at least 35 scripted series ideas”. He also estimated that international drama productions will generate more than 20% of Fremantle’s total revenue in 2019.