Deutsche Telekom's new chief executive will be Mr Thomas Middellhof, the current chairman and chief executive of the German media giant Bertelsmann, according to media reports.
Bertelsmann declined to comment on reports that its supervisory board had agreed to replace its 49-year-old chief executive yesterday after he announced he was leaving for Telekom.
Mr Middelhoff has been a member of the Bertelsmann board since 1994 and was appointed chief executive in 1997. Under his leadership, Bertelsmann has grown into one of the world's largest media organisations employing 82,000 people, with a turnover last year of €19 billion.
The company owns the private television company RTL, owner of Britain's Channel 5, the music company BMG and is the world's largest book publisher since buying Random House.
However, Mr Middelhoff was frustrated that Bertelsmann remained an unknown player in the media market compared to its rivals AOL Time Warner and Viacom.
In his five years as chief executive, he modernised a famously secretive, family-run business that began life 150 years ago publishing hymn collections. But his plans were hindered by the fact that the company is still in private hands, controlled by the Bertelsmann Foundation.
Disagreements with the board about Bertelsmann's future direction, and plans to go public in 2005, led Mr Middelhoff to consider his position, according to Bild newspaper.
He was also damaged by close association with Napster, the music trading company bought by Bertelsmann that went bankrupt earlier this year.