Telefónica Accelerates Endemol Sale Process

MADRID, January 23: Wire reports indicate that Telefónica is
looking to accelerate the sale of its 75-percent Endemol stake, with The Walt
Disney Company and News Corporation both being bandied about as possible bidders,
and both companies denying any involvement in the auction.

Executives from the Spanish telecommunications giant are
said to be discussing an arrangement for Merrill Lynch to broker the sale of
the majority stake in the format behemoth.

A News Corporation spokesman has already told Reuters that
the speculation about his company’s interest in buying Endemol was “nonsense.”

Reports have also indicated that Disney has linked up with
Endemol founder John de Mol to buy the company. Both Disney and de Mol have
denied the rumors.