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News from Variety 10/13/02___
This in variety
Posted: Sun., Oct. 13, 2002, 12:31pm PT
EM.TV says Henson is still in play
Company considering many options, sez spokeman
BERLIN -- German kidvidder EM.TV has denied rumors that a deal with billionaire producer Haim Saban for the Jim Henson Co. has been signed, adding that the company remains in talks with a number of interested buyers.
Specifically, EM.TV spokesman Frank Elsner refuted reports the company and Saban had signed a letter of intent, and added EM.TV could simply end up selling a stake in Henson. "EM.TV is considering different options and still has until the end of the year. A sale of Henson is not imminent."
Yet Saban and New York investment group Evercore Partners have reportedly made an offer of $128 million, around double the figure initially reported last week. While EM.TV officials refused to comment on the going price, one source close to the company said EM.TV was seeking a price close to Henson's current book value of $147 million, adding that Saban's reported offer wasn't far from that.
The Munich-based group has until the end of the year to sell its stake in Henson in order to pay back the remaining $63 million from a $250 loan to creditor banks.
Company said it has no plans to sell its 45% stake in Herbert Kloiber's Tele Muenchen Group nor its 16% stake in film group Constantin. Its minority stake in Formula One racing remains tied up in the Kirch Group's insolvency proceedings.
Date in print: Mon., Oct. 14, 2002, Los Angeles
This in variety
Posted: Sun., Oct. 13, 2002, 12:31pm PT
EM.TV says Henson is still in play
Company considering many options, sez spokeman
BERLIN -- German kidvidder EM.TV has denied rumors that a deal with billionaire producer Haim Saban for the Jim Henson Co. has been signed, adding that the company remains in talks with a number of interested buyers.
Specifically, EM.TV spokesman Frank Elsner refuted reports the company and Saban had signed a letter of intent, and added EM.TV could simply end up selling a stake in Henson. "EM.TV is considering different options and still has until the end of the year. A sale of Henson is not imminent."
Yet Saban and New York investment group Evercore Partners have reportedly made an offer of $128 million, around double the figure initially reported last week. While EM.TV officials refused to comment on the going price, one source close to the company said EM.TV was seeking a price close to Henson's current book value of $147 million, adding that Saban's reported offer wasn't far from that.
The Munich-based group has until the end of the year to sell its stake in Henson in order to pay back the remaining $63 million from a $250 loan to creditor banks.
Company said it has no plans to sell its 45% stake in Herbert Kloiber's Tele Muenchen Group nor its 16% stake in film group Constantin. Its minority stake in Formula One racing remains tied up in the Kirch Group's insolvency proceedings.
Date in print: Mon., Oct. 14, 2002, Los Angeles
