It”s been a week of M&A madness in the TV production sector. The big story, confirmed on Monday, is that channel operator Discovery Communications has acquired indie production company Betty (the producer of  factual series Dirty Sexy Things and Freaky Eaters) for £10 million.

At the same time, there are reports that Endemol, the company that owns formats such as Big Brother Deal Or No Deal and Wipeout, is the subject of a U$1.4 billion offer by US studio Time Warner.

Time Warner is not the first company to be linked with a bid for Endemol and it is unlikely to be the last. Although the company has huge debts, it also has one of the best developed production and distribution businesses in the world – with a presence in the Americas, Europe and Asia. Any company able to absorb Endemol”s debt would significantly boost its international capabilities.

An Endemol spokesperson confirmed that the offer had been made but would not comment on whether it was likely to receive favour with the board. The most likely outcome is that Endemol will wait and see if TW”s bid brings a response from other US majors such as Viacom, Sony and NBC Universal.