Big Brother producer Endemol has been witnessing its own reality story unfold on the global stage over the past several weeks. Today, the company’s creditors are said to have given the Dutch TV giant an extension after it failed to reach a deal to restructure its $3.7 billion debt ahead of the deadline yesterday. The waiver will go until February in what amounts to the third time such an extension has been granted. On Monday, Time Warner refined its recent (unsolicited) bid for the company telling Endemol it was willing to pay $1.4 billion in cash as opposed to its previous offer of a combination of cash and debt. Endemol put the original offer on hold back in November.

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