Telefonica looks to sell off Big Brother' TV group Endemol stake

0 Comments | AFP, March, 2007

MADRID (AFP) — Spanish telecommunications group Telefonica said Friday it might sell all or part of its controlling stake in Endemol, inventor of the "Big Brother" television format, which it has struggled to fit into its business.

There had been speculation that Telefonica wanted to withdraw from its 75.0-percent interest in Endemol which is capitalised at 2.6 billion euros (3.4 billion dollars) on the Amsterdam stock exchange.

The Big Brother concept, involving the isolation and continuous filming of a group of people in an enclosed space to make drama out of human relationships, has become popular with television viewers across the world.

The news came two days after ITV, Britain's main commercial television network, forecast further falls in advertising...

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