Endemol Acquires Controlling Stake In 51 Minds; Producer Of VH1 Reality Hits
This story was written by Joseph Weisenthal.
Multi-platform entertainment group Endemol has acquired a controlling stake in 51 Minds, a producer of non-scripted entertainment. 51 Minds is responsible for (or to blame for, depending on your point of view) such VH1 hits as The Surreal Life, The Flavor of Love and its spinoff I Love New York. At one point, says the company, its programming accounted for 85 percent of streams at VH1.com and two thirds of the network's VOD orders. The purchase, made through the company's Endemol USA division, will help bolster the company's reality business, as well its digital side. 51 Minds was formed in 2003, via the merger of 51 Pictures and Mindless Entertainment. Release.
Endemol is owned by a consortium consisting of Goldman Sachs Capital Partners, Mediaset Group and Cyrte Group.
By Joseph Weisenthal