Endemol buys stake in MoMedia

Endemol has bought a 25% stake in new media content producer MoMedia International.

This follows a move last year by the Big Brother producer to invest £15 million in mobile, broadband, IPTV and video-on-demand over the next three years.

Founded in 2005, London-based MoMedia produces content for distribution in 35 countries, and has deals with the likes of 3, Vodafone, T-Mobile, Yahoo, AOL, BT Vision and MSN.

The company was set up by former World Wide Entertainment executives Lucas Bertrand, now chief executive officer, and Mark Benmore, MoMedia's chief operating officer.

Last week, Mediaset - the company looking to purchase Endemol - assured the city the deal would go ahead, despite concerns over the volatility of the global credit market.