Guardian To Sell Television Interests

The Guardian Media Group is expected to announce the sale of its television production interests later this week. Its 50% stake in GMG Endemol, which made Channel 4’s Big Brother, is to be sold to Spanish telecoms group, Telefonica, according to reports.

GMG Endemol is a joint venture between GMG and Dutch group Endemol Entertainment and its core activity is television production. Amongst its successes are BBC’s Changing Rooms, Ground Force, Ready Steady Cook and Pet Rescue and it is also responsible for The Brit Awards and The Pepsi Chart.

The group would not confirm that a deal is in the pipeline today, but said that an announcement is imminent. It is believed that the sale will allow the group to concentrate on its newspaper, radio and internet assets.

Telefonica already owns a 50% stake in the GMG Endemol, following the completion of its acquisition of Endemol last month.

Guardian Media Group: 020 7278 2332