Mediaset, de Mol Eye Endemol

ROME/HILVERSUM, June 16: John de Mol’s investment vehicle
Talpa Management is said to be working with Mediaset on a bid to acquire a
majority stake in Endemol from Spain’s Telefónica, wire reports indicate.

Endemol shares were up some 9 percent today. The deal being
considered by Talpa and Mediaset values the company at about 1.7 billion euros.

Talpa spokesman Thomas Notermans told Bloomberg News, “I
can't confirm we're in talks but I can say that from a strategic point of view
it would be interesting for us.”

De Mol left Endemol—the company he founded with Joop
van den Ende and then sold to Telefónica in 2000—in 2004. His resignation
came shortly after Telefónica installed Joaquim Agut as CEO, replacing Aat
Schouwenaar. Agut himself announced his resignation last week. His exit
followed comments he made in the Spanish press denying speculation that
Telefónica is in a rush to offload its 75-percent interest in Endemol.
According to the AFX news wire, Agut told Endemol shareholders, “Telefónica has
acknowledged that Endemol is not part of its core business and that it is considering
selling. But it is in no hurry to do so.” Announcing Agut’s resignation,
Endemol said only that it was for “personal reasons.”

Telefónica has nominated Elías Rodriguez-Viña Cancio to
fill the CEO position.