Spanish telecommunications group Telefonica is close to taking over London-based TV production operation GMG Endemol by buying a 50% stake from the UK's Guardian Media Group, according to reports.
The sale would come after Telefonica last month completed the £3bn acquisition of Dutch-based Endemol, securing Endemol's 50% stake in the UK operation in the process.
The anticipated deal is expected to value GMG Endemol at almost £60m. The UK operation makes programmes including Channel 4's Big Brother and the BBC's Changing Rooms and Ground Force.
Guardian Media Group is expected to focus on newspaper, radio and internet activities. A spokesperson for GMG Endemol declined to comment.