De Mol Takes Endemol Stake

HILVERSUM, January 9: John de Mol has reportedly acquired a
5.15-percent stake in his former company Endemol, which today announced a deal
to buy back Endemol France from parent company Telefónica.

Endemol France produces primarily non-scripted fare (90
percent of its output), including Star Academy, Deal or No Deal and Watch Your Step. Telefónica carved out Endemol France as a separate
business prior to its IPO of a 25-percent stake in Endemol. At the time, Telefónica
was embroiled in a disagreement with the previous owners of Endemol France
regarding the deferred purchase price for the business. An agreement was
reached in September.

Endemol intends to acquire Endemol France for 450 million
euros. Of this amount, 194 million euros will be deferred over a period of four
years and will be subject to the performance of Endemol France. The transaction
will be financed by bank debt and future cash flow.

Meanwhile, the company’s former co-owner, John de Mol, has
reportedly bought a 5.15 percent stake. De Mol indicated towards the end of
last year that he was interested in reacquiring the company that he sold to
Telefónica in 2000. The Spanish telecoms giant is seeking a buyer for its
75-percent interest in the company.