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Like a grimly determined contestant on Wipeout, Time Warner keeps pursuing Endemol. The Dutch producer of the big-balls epic and Fear Factor and Deal or No Deal and a bunch of other game and reality shows makes such an inviting target. Time Warner has a lot of hours on a lot of channels to fill, and they could lease Endemol's huge library of shows to other media operators around the world.

TW hasn't raised the total value of its offer but has made it all-cash. The media conglomerate doesn't seem to be getting any more traction, though, as Endemol remains cool to the overture. The production outfit harrumphed:

Endemol has received a revised offer from TW. The company has passed it on to the lenders. We remain focused on our discussions with lenders and these have entered the final stages. We are confident that a solution that puts the company on a firm financial footing for the future is now imminent.

Truth to tell, Endemol does seem to be clawing out of its financial hole. Or at least the hole isn't getting even deeper. A renewal of the Brit Big Brother, among other deals, has brought some much needed cashflow to the heavily indebted firm.

I can see why Time Warner covets that big pile of game and reality shows. Why bother leasing them when you can own 'em all? But they'll probably have to blow everybody away with an apocalyptic offer to get what they want.