Time Warner Inc has made a non-binding offer for debt-burdened Dutch TV production company Endemol, a spokesman for Endemol said on Friday.

The offer for the Big Brother TV show maker should not come as a surprise as it is performing well and is a highly attractive asset, the spokesman said.

Endemol is in the process of restructuring its 2.8 billion euros (2.3 billion pound) of loans after failing to meet banking covenants. Lenders have agreed to waive this covenant breach until mid-November.

The approach does not change anything. Our main focus is on reaching a solution with lenders. Those discussions continue to make good progress and we are confident that an agreement would put the business on a firm financial footing, said Charlie Armitstead, an external spokesman for Endemol.

The broadcaster is owned by Italian Prime Minister Silvio Berlusconi's Mediaset , Goldman Sach's Capital Partners and Cyrte Investments, a boutique firm which manages Endemol founder John de Mol's investments.

Dutch state-owned broadcaster NOS reported that the deal could be worth up to 1 billion euros, but did not cite a source for the valuation.

The lenders would be looking to recoup their loans, said a London-based analyst who declined to be quoted by name because he does not officially follow the company.

It puts the debt holders in a stronger position as they now have an interested party in the assets, whereas before the equity owners could hold them to ransom with the argument that the lenders would not be able to recoup their money if they pulled the plug and sold the business at an auction.

A spokesman for John de Mol declined to comment and referred questions to insurer Delta Lloyd , which is the majority shareholder of Cyrte Investments.

Delta Lloyd declined to comment.

(Reporting by Isabell Witt, Georgina Prodhan and Gilbert Kreijger; Editing by David Holmes)