ITV buys Dutch firm Talpa in €1.1 billion deal

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The United Kingdom's largest commercial broadcaster ITV is in the process of acquiring Dutch media company Talpa Media for as much as 1.1 billion euros, Bloomberg reports.

ITV will initially pay 500 million euros in cash for John de Mol's company and then further amounts dependent on Talpa's futre performance The transaction is expected to be completed in the second corner.

John de Mol is internationally known as the man behind reality TV shows like Big Brother, The Voice and Fear Factor. He has been looking for buyers for Talpa since September last year.