Endemol buys a 50 per cent stake in gossip site Holy Moly

Investment by the reality television producer will allow the website to expand to other popular cult

The former producer of Big Brother has acquired a dominant share in Holy Moly, a website specialising in celebrity gossip. The transaction saw the site's founder, usually known as "Mr. Holy Moly", reveal his name publicly for the first time.

James East - son of former Sky Sports and Setanta executive Trevor East - set up the website in 2002. He concealed his identity, sometimes appearing on television sets wearing a balaclava.

East said that this transaction would allow his website to expand its area of interest. Endemol UK executive, Tim Hincks, said his company was "tremendously excited" about working with East, also describing his website as a "brilliant success story in online entertainment".