Media News

Endemol sale moves closer

Endemol shareholders have this morning voted to approve the purchase of the company's French arm, a move which will give owner Telefónica the green light to sell the production company outright.

At the meeting in Amsterdam today, 83% of shareholders agreed to the proposal to merge with Endemol France, the only remaining barrier to an outright sale of the Big Brother producer.

When Spanish telecoms giant Telefonica bought 77.7% of Endemol for 5.5 billion Euros in November 2005, the French arm was excluded due to a disagreement over payouts to management.

An outright sale is expected to be discussed at a board meeting in Madrid today, with any deal to be completed by March.

Original founder of Endemol, John de Mol is reported to be going ahead with a bid for the company with investment bank Goldman Sachs.

Endemol France head Stephane Courbit. private equity group Apax and Italian media group Mediaset has also been linked to bids.
You May Like