Joaquim Agut Bonsfills, chief executive of production company Endemol, has resigned amid speculation that the company is about to be sold by its Spanish owner Telefonica.
British Tom Barnicoat has been tipped as the new head of the Dutch
Big Brother producer. Mr Barnicoat is currently the chief operating officer and a former head of Endemol’s UK operation.
A statement issued by Endemol said that Agut Bonsfills had resigned for personal reasons after tiring of commuting between the firm’s headquarters in Hilversum and his home in Barcelona. The board accepted the resignation last night.
Mr Agut Bonsfills was handed the chief executive job by Endemol’s parent company Telefonica two-and-a-half years ago. His resignation has renewed takeover speculation surrounding the company.
Recent reports have indicated that Telefonica is preparing to sell Endemol (see Endemol Share Rise), also behind Channel 4’s Deal or No Deal, which it bought for &euros;5.5 billion in 2000. It currently owns 75% of Endemol, having floated 22.3% of the company on the Dutch stock market last November.
A weekend report said investment banks were already looking to put together a consortium to bid for the firm, in a deal that could be worth £3.45 billion. However, Mr Agut Bonsfills told a meeting of Endemol shareholders in Amsterdam yesterday that Telefonica was in no hurry to sell its stake.
The resignation dampened the firm’s share price, which was down 1.16% at &euros;13.62 (£9.40) on the Amsterdam stock exchange at 11.30am. Endemol, which was founded in 1994, has subsidiaries and joint ventures in 24 countries ith the merger of two Dutch TV producers.
The company turned over £614 million last year and income from Big Brother-related activities is thought to make up almost 20% of this figure.
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