The Guardian Media Group has agreed to sell its remaining interest in television production company, GMG Endemol, to Telefonica. The deal, announced on Newsline yesterday (see Guardian To Sell Television Interests), will allow the company to concentrate on its newspaper, radio and internet assets.
Bob Phillis, chief executive of GMG, said: “Major alliances in the US, as well as within Europe, are reshaping the global landscape of television production and distribution….the disposal is a further stage in our repositioning as a multimedia group based on our core strengths, values and brands.”
Earlier this year GMG disposed of its minority interests in GMTV and in the publishing company Fourth Estate (see Guardian Media Sells Stake In GMTV).
Guardian Media Group: 020 7278 2332
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