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Banks extend EM.TV's "Junior loan" repayment term to end of May 2003

Discussion in 'Muppet Headlines' started by BoyRaisin2, Apr 30, 2003.

  1. BoyRaisin2

    BoyRaisin2 Active Member

    From EM.TV's website:


    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.
     
  2. Muppets1985

    Muppets1985 Member

    ..End of May....what the END OF MAY!!! OMG!!!:grouchy: OMG i'm sooo mad next thing u know it will be June 2003, then July 2003, etc, ect...:mad: :mad: ...Come on Eisner buy them All ready man!!!! lol ok im better now...:D
     
  3. Phillip

    Phillip Administrator Staff Member

    Thanks for the info Kenny. The drama goes on and on and on...
     
  4. BoyRaisin2

    BoyRaisin2 Active Member

    and on. :)

    Gees, I wake up early for a change seeing if there's an announcement and I get this.

    What's interesting is that in other EM.TV press releases at the site, they always mention "several interested parties" and things like that. Now it says it's in final stages of negotiations to sell Henson. Question is: with whom? With, whom?
     
  5. Fozzie Bear

    Fozzie Bear Well-Known Member

    EM.TV isn't in negotiations; they're just saying that to get a 'stay of execution' on their pay-offs.

    Heck, at this point it'd be better for the banks to own JHC.

    If this leaves the remaining 12.5 then that reduces the price of purchase of the JHC, right?

    I'm tellin' ya--everybody missed out. 250,000 of us at $600 each could have owned this company.

    I think, but I"m horrible at math.
     
  6. Jrobert

    Jrobert New Member

    Final Stages of JHC Sale

    Okay, great article and exciting news that the JHC will finally get sold and more than likely the new owner will do more with them than EM.TV.

    My question to Phil or anyone: Is the sale reaching completion with Disney? The article doesn't state ANYONE but I assume when they reach these "final" stages that they are in pursuit from one buyer correct?

    Kind of nice to know when things are actually happening huh? :D
     
  7. Luke

    Luke Active Member

    Actually technically this doesn't mean anything new - they have been in the 'final stages of negotiation' for many months, since all the most solid bidders signed letters of intent and things. Of course they could well now have one main bidder who they are wrapping up the sale with but it doesn't mean that. The most interesting line is actually :- "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." which basically means that if EMTV do sign something with someone they'll be given two months to get the cash (or 12.5 million of it) so i would guess that the Jim Henson Company will not be officially sold until the end of July 2003 although we may hear details of what will happen before then.

    I'm sure they have plans to sell the company but it's interesting they are getting so much time to pay back the loan - a few more months and they could probably repay it all without even selling the Henson Company if they wanted to keep it.
     
  8. BoyRaisin2

    BoyRaisin2 Active Member

    Yes! Kenny submitted a headline. I feel important now.

    I would not be surprised. I would not be surprised by that at all.
     
  9. sarah_yzma

    sarah_yzma Active Member

    yeah i don't think this really means anything at all...just to tide us off a few more months...or years

    Sarah
     
  10. Zack the Dog

    Zack the Dog Active Member

    Hi Luke,

    Can you explain why EMTV hasn't gone bankrupt and thrown out on the street yet? The deadline keeps getting pushed back and back, like...there's no such thing as a deadline! You would think time as past so much that the Muppets would be no more due to the company going belly up because they can't pay yet.

    If Disney is going to buy the Muppets, buy them! It seems like Eisner is just in his office spining around on his chair chewing on a mickey mouse pencil! That's seems to be all he is doing now. It seems to be what everyone is doing and hardly anyone is EVER up for comments or can't be reached!

    Zack)Rowlf the, heck i'll like the EMTV company to just go belly up! at least something would be happening then and hopefuly someone could swoop up and save the muppets!Dog.
     
  11. danielromens

    danielromens Member

    Hulk get mad, Hulk get strong.
     
  12. sarah_yzma

    sarah_yzma Active Member

    this is what eisner wants...he wants to wait as long as he can so the price can get at rock bottom...I would not be surprised if he turns around and buys them

    Sarah
     
  13. BoyRaisin2

    BoyRaisin2 Active Member

    $70 million ain't cheap enough? It's better than the $200-250 million talked about two years ago.

    And, from my standpoint, if it's just for the characters and library (if that's even an issue now), so be it. I'd rather have "Jim Henson Co." acquired, but EM.TV isn't even throwing in the Creature Shop, the division that makes the Henson company more than just "The Muppets."

    I still "think" I don't "think" Disney will buy the Muppets. The last sentence of "final stages of negotiations" is still eating in my head.
     
  14. sarah_yzma

    sarah_yzma Active Member

    yeah, but eisner loves a deal....70 million? that's like us finding a $20 on the ground...he won't pass it up..he KNOWS the muppets can make money...he knows it...and he's itching to get them

    he's just seeing how low it can go...he might eventually lose his chance, but i'd bet my boots he knows what exactly is going on

    Sarah
     
  15. frogboy4

    frogboy4 Inactive Member

    It's like a dance. It'll go back and forth until someone gets tired. Disney will come around. My money goes on that.

    70 million dollars. That's like 5 Lizzie Maquire movies and a Max Keeble 2. :rolleyes: :grouchy:
     
  16. sarah_yzma

    sarah_yzma Active Member

    as much as i don't want disney to own them *dodges muffins* i think they will end up buying them

    Sarah
     
  17. Luke

    Luke Active Member

    Actually if Disney can't get the deal they want from EMTV it wouldn't suprise me if they pulled out and didn't get the Muppets. We'll have to see.
     
  18. BoyRaisin2

    BoyRaisin2 Active Member

    All Eisner needs to do once he gets them--if he gets them--is, at first, continue with the Muppet show for Fox that was announced last year, continue production on any other show Henson is working on or planning on (and their shows are mostly preschool anyway), and put the classic series and specials on TV. Just make the "Muppets" and "Jim Henson" brands active franchises again (and air those shows so I can RECORD them and have something new to watch!).

    If you need to buy the licenses back instead of using the money for theme park rides, go ahead. Wanna wait 'til the Muppets ARE a successful brand again, just wait. Put a few walk-around characters around MV3D just to clarify the Muppet presence, do it. I haven't been to a Disney park in 12 years so, for right now, it wouldn't matter to me.

    And keep the New York office open, screw the Chaplin lot (except the Kermit statue). The NY office to me is the physical symbol of Jim Henson Co. It has the mural, Jim worked there, it's got the Muppet wallpaper in the restrooms. If that's not that symbolism, I don't what is.

    And that's my rant.
     
  19. sarah_yzma

    sarah_yzma Active Member

    does disney not see they could eaasily get 70 million back within 5 years (or less)

    or any company for that matter.....

    Sarah
     
  20. frogboy4

    frogboy4 Inactive Member

    People complain about what Disney did to the Pooh empire, but I have always enjoyed what they did. Sure, they've had that lack-luster Book of Pooh puppet show and the costume show in the 80s, but the animated TV and film projects are pretty darn good and Pooh would not be as popular as it is today if it weren't for Disney. I also think it's cool how Disney released merchandise with the original classic Pooh look. I know muffins might get thrown.

    I disagree with Disney's approach to many things, but Henson's approach over the last decade has been scattered at best. As has been just stated, I hope they'd keep the Fox show in production. The fact is, that could go either way.

    On the ABC front, Eisner has announced that he's making the network's success a top priority. They've made some baaaaad decisions this season. The inconsistent play of their new shows and premature yanking of them is one of the biggest causes. The churning out of cookie-cutter sitcoms is another. And now they are talking about killing The Practice. I think the monkeys are loose at that network. Sorry, rant over. Just illustrates that Fox is the better bet for a TV slot. They have a better track record even if it isn’t a glowing one. :zany:
     


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