Production giant Endemol has acquired a majority piece of the reality production outfit Authentic Entertainment, according to The Hollywood Reporter.
Endemol already has a large piece of the reality television market, and the acquisition expands its stake. Authentic is behind Bravo’s "Flipping Out," TLC’s "Toddlers and Tiaras" and Food Network’s "Ace of Cakes," among others.
While terms of the deal were not released as yet, it’s believed to be somewhere in the neighborhood of $60 million.
Endemol North America Chairman David Goldberg said of Authentic, "We have been following their growth over the last few years and were impressed by the variety and quality of their shows. This growth, and the versatility in their programming, will only help to further diversify Endemol North America’s business."