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EM.TV in final stages of Henson sale, receives loan extension

Courtesy of EM.TV & Merchandising
April 29, 2003

EM.TV & Merchandising AG agreed with its consortium banks regarding further partial repayment of the so-called "Junior loan."

According to this agreement EM.TV will pay EUR 12.5 million, or half of the residual debt of EUR 25 million. The banks have decided to extend the term of the remaining EUR 12.5 million until the end of May 2003.

The residual debt will be extended by an additional two months if an agreement concerning the sale of the US subsidiary The Jim Henson Company has been signed by the end of May 2003. EM.TV is currently in final stages of negotiations concerning the sale of The Jim Henson Company.