EM.TV to sell 49.9% of Henson to Dean Valentine

Phillip

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U.S. Group to Buy Stake in Muppets
Courtesy of Yahoo News

German media company EM.TV said Tuesday it has signed a letter of intent to sell a U.S. investor group a 49.9 percent stake in the Jim Henson Co., creator of Kermit the Frog and the Muppets.

EM.TV, which bought the Jim Henson Co. and rights to the Muppets in February 2000 for $680 million in cash and stock, said it expected a final agreement next month on the sale of the stake to the group, led by former UPN president Dean Valentine and investment company Europlay Capital Advisors.

EM.TV has not publicly named a price, and declined to comment Tuesday on the value of the deal.

The German company said that following the sale Valentine, who stepped down earlier this year as head of UPN, would be in charge of operations at the Los Angeles-based Jim Henson Co.

Valentine's management team also includes Mort Marcus, formerly chairman of Miramax Television and Video, and Nick Van Dyk, former executive vice president of Artisan Entertainment.

"We are committed to continuing the legacy of creativity, humor and humanity that marked everything Jim Henson touched," Valentine said in a statement. "At the same time we feel there is enormous potential for growth, not merely from Kermit and the Muppets, but from the expansion of the Henson brand into all areas of family entertainment."

Werner Klatten, EM.TV's chief executive, stressed that his firm "will remain as the majority owner of the Jim Henson Co. and will continue to have an important presence in the U.S. market." EM.TV will remain the company's international distributor.

EM.TV was founded in 1989 and became a star of Germany's tech-heavy Neuer Markt. But dramatic moves such as buying the Jim Henson Co. — and, one month later, half of Formula One motor racing — proved flawed, piling up debt and leading to a loss of 2.8 billion marks (now US$1.4 billion) in 2000.

Munich-based EM.TV's stock hit a peak of 109.59 euros in February 2000. It closed Monday at 87 euro cents (US$0.89) on the Frankfurt exchange.

In May last year, EM.TV said it was considering selling the Jim Henson Co.

Aside from being financially strapped, the company said at the time it was also finding it too difficult to manage the Jim Henson Co.'s production studios in the United States from its headquarters in Germany.

EM.TV said Tuesday that the sale of a minority stake would allow it to finish paying back a loan that financed the acquisition of its stake in Junior TV, a joint venture with the now-bankrupt KirchMedia.

http://story.news.yahoo.com/news?tm...p_wo_en_bu/eu_fin_com_germany_em_tv_muppets_2
 

BoyRaisin2

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But but, but but but but but but, didn't, but hey, but but, what the ****, but wait, how...WHAT?!

NO!!! NO NO NO. But, freak, no, but, no.

Huh, I'll ***** about it later.

Merry bleepin' Christmas.
 

Fozzie Bear

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Originally posted by Phillip Chapman
Aside from being financially strapped, EM.TV said it was finding it too difficult to manage Jim Henson Co.'s production studios in the United States from its headquarters in Germany.

Those idiot creeps should have thought about that BEFORE jumping in and buying the company, so NOW nearly 50% of the JHC is owned by some idiot out there and the other half by EM.TV??

THANK YOU THOMAS HAFFA, YOU FREAK!!:mad:
 

EmmyMik

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There were a whole lot of words in that article, and I didn't understand them.

I still stand by my "Press Release in 10 Words or Less" rule...
 

BoyRaisin2

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It's funny. Here was I early this morning looking at several Disney-Henson articles, two from which I just found at hoovers.com, while at the same time, looking at video clips from Henson.com. A few hours later, I'm back on the computer, and on the TV, the NBC Christmas movie and Farscape are on. And in front of my face are "Jim Henson: The Works" and "Disney: The Ultimate Visual Guide." Then, suddenly, this load of CRAP happens!!!!

Funny, I'm not as p*ssed as I thought I would be. Just very very very, well yeah p*ssed, but not cussing out angry. Just muttered "but" about a hundred times.

Hmm, wow an EM.TV-Dean Valentine-Europlay company. Impressive. Woo, much better than Disney.

OK, now I'm just being snotty. Laterz!
 

Stryder Wolfe

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so what exactly does this change? Em.TV is still the majority holder, but now there's a partnership thing? Can someone in the know sort of list some potential ramifications or something?
 

BoyRaisin2

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And, yeah, I know this news is about an hour long and it's Christmas Eve and this is my third message already, but, well, what about Rivkin???
 

Fozzie Bear

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250,000 fans at $600 each could afford $150million and we could OWN JHC and let it be run the way it SHOULD be run.

Rivkin told me at MF that if a sale of JHC went through, whoever got it would be a company that would allow JHC freedom and say-so over what the projects were. I'm somehow feeling that won't be happening.

EM.TV should be burned down. JHC should belong to JHC.

Now, I'm ready to smack Brian Henson in the back of the head with my rubber chicken again!
 

Struble

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Could someone explain why everybody is complaining? I don't see what's so wrong with someone INVESTING in JHC, so that there is an influx of dollars, thus keeping them away from bankruptcy. So, someone explain why everyone is angry, as I don't see it.

Sh.
 

pezbalubah

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Well this could be good news, this could be bad news, or maybe it won't change anything. We'll just have to wait and see. Although whatever they do now, good or bad will probably be credited to this sale. The comments from Valentine seemed positive.
 
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