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Corporate Responsibility 2010

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indicators but also any additional indicators of the G3 Guidelines. The aim is to gradually respond to all the issues raised through these indicators.

Preparation of the Report

The preparation of this report was coordinated with Corporate General Management and the involvement of several areas that were asked to provide information and that validated the fnal information included in the Report. These areas are: Antena Division, New Business, Division, Content Production Division, Cinema & Rights Acquisition Division, Technologies Division, HR and Services Division, Communications and External Relations Division, Financial Division, Investor Relations Management, Internal Audit Management, Institutional Relations Management and Publiespaña service operations and sales management.

Signifcant changes and reporting basis

As mentioned previously, towards the end of the reporting period, Sogecuatro and its subsidiaries were added to the Telecinco Group together with the 22% acquired of the share capital of DTS Distribuidora de Televisión Digital SA (hereinafter Digital +). The combination of the two leading television channels required the validation of the Spanish Competition Authorities (CNC), as it entailed concentration of the industry from a competition viewpoint, particularly taking into account that Telecinco was acquiring 22% of Digital+, the leading pay television operator in Spain. The transaction was fnally cleared by the CNC on 10 November 2010, and 100% of the shares of Sogecuatro were acquired on 28 December through a non-capital

contribution as well as 22% of the shares of Digital+. The changes in the consolidation scope are set out in the chapter on the Telecinco Group of this report and in the Annual Accounts.

The information in this report is completed through that contained in the Annual Corporate Governance Report and the Annual Accounts.

On-going dialogue

Telecinco favours the engagement of stakeholders and appreciates their comments, concerns and information requirements. For such purposes and in order to obtain feedback on the issues addressed in this report or others that are considered relevant from a sustainability viewpoint, there is a specifc communication channel which they can use:

Corporate General Management Carretera de Fuencarral a Alcobendas, 4

28049- Madrid rc@telecinco.es