BB FANS

Endemol, the Dutch-based television production company behind the hit Big Brother TV show, has parted company with its chief executive Joaquim Agut.

Although the firm said in a statement that Mr Agut had resigned for personal reasons, the news has renewed takeover speculation surrounding the group.

Reports have suggested in recent weeks that Endemol's parent firm, Spain's Telefonica, wants to sell the business.

A group of investment banks are said to be interested in buying Endemol.

Telefonica floated a 22.3% stake in Endemol on the Dutch stock market last November, leaving it with 75% ownership.

Endemol said on Thursday morning that it would seek to replace Mr Agut without delay.

Analyst Oskar Tijs said: "We have always expected Agut would resign if and when Telefonica gives up control over Endemol."

Telefonica gave Mr Agut, a Spaniard, the top job at Endemol two and a half years ago.

"The supervisory board and management board regret Mr Agut's decision, but respect it and thank him for his valuable contribution and achievements," said Endemol.

The company has sold its Big Brother concept to 37 countries around the world.

Endemol turned over £614m last year and income from Big Brother related activities is thought to make up almost 20% of this figure.

Story from :
BBC NEWS
Published: 2006/06/08 08:59:50 GMT

Big Brother firm lines up new boss

Julia Day
Wednesday June 14, 2006

Endemol, the global television production company behind Big Brother, has nominated an executive from its parent company Telefonica, as its new chief executive.
Elias Rodriguez-Vina Cancio, who was responsible for non-core subsidiaries at the Spanish telecoms group, will succeed Joaquim Agut who resigned last week if his appointment is approved at an extraordinary general meeting of shareholders to be called shortly, said Endemol in a statement.

Analysts had been expecting the chief operating officer, Tom Barnicoat, to replace Mr Agut, whose departure was interpreted as presaging the sale of Netherlands-based Endemol by Telefonica.

Telefonica bought Endemol for $5.5bn (£3.8bn) at the height of the dotcom boom and speculation about the company's intentions have increased since it sold 22.3% of its stake in November, taking the TV production company public.

Telefonica confirmed last month it may sell the rest of its stake to help fund the acquisition of Brazilian joint venture Vivo from Portugal Telecom.

The list of potential suitors for Endemol is considered to include AOL Time Warner, Sony and Viacom as well as private equity buyers. A management buyout is another possibility.

Among Endemol's hits are Deal or No Deal, Fear Factor and Changing Rooms. It has sold Big Brother to 37 countries, helping fuel the explosion in format sales that is driving the growth of the independent production sector.

MediaGuardian