Four of the magic circle are among a raft of firms to have won roles on the multi billion-euro debt restructuring of Endemol, the TV production company behind shows such as Big Brother and Deal or No Deal.

Endemol is owned by a consortium comprising Mediacinco, Goldman Sachs Capital Partners and Cyrte Investments, which are being advised by Clifford Chance (CC), Sullivan & Cromwell and Benelux leader Stibbe respectively.

London corporate partners Joachim Fleury and Daniel Sandelson are leading the CC team, supported by restructuring partner John MacLennan. City partner Presley Warner is heading up the Sullivan team, while the Stibbe team is led by Amsterdam partner Bjorn van de Klip.

Freshfields Bruckhaus Deringer is advising Endemol itself. Meanwhile, Allen & Overy (A&O), Linklaters and Kirkland & Ellis are advising the lenders on the restructuring.

Linklaters is acting for creditors on the deal including Barclays, Royal Bank of Scotland and the Lehman Brothers estate. A&O is advising Barclays as senior agent and security agent, while Kirkland is working with the hedge fund lenders, with London banking partner Philip Crump taking a key role.

CC's Fleury previously advised the consortium of buyers when it bought Endemol from Spanish telecoms giant Telefonica in 2007, when legacy US law firm LeBoeuf Lamb Greene & McRae advised the seller.

Stibbe's mandate is also a repeat of the 2007 deal, when van der Klip also advised Cyrte. Freshfields also took a role on that deal, advising the consortium on the financing.

The news comes amid speculation linking ITV with a takeover bid for the company in a €2bn (£1.8bn) debt deal. According to media reports, ITV is considering a deal to take over the production company without making any payment, while taking on its €2bn-plus debt.

ITV operates a full panel of external law firm advisers, including Slaughter and May, Hogan Lovells, DLA Piper and Addleshaw Goddard.