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German Prosecutors Wrap Up EM.TV Trial

Discussion in 'Muppet Headlines' started by Phillip, Apr 7, 2003.

  1. Phillip

    Phillip Administrator Staff Member

    German Prosecutors Wrap Up EM.TV Trial
    Courtesy of the Associated Press

    German prosecutors called Monday for eight-month suspended sentences on fraud charges for the founder and the former finance chief of EM.TV, the media company that bought the Muppets and became a star of Frankfurt's now-defunct Neuer Markt index.

    Thomas Haffa, the company's founder who quit as chief executive last year, and his brother Florian, the former finance chief, went on trial in November, accused of knowingly publishing misleading corporate figures in August 2000.

    Summing up his case Monday, prosecutor Peter Noll told the Munich state court that the Haffas "presented numbers that were crassly false and severely shook investors' trust in the German market."

    The brothers said first-half revenue for 2000 had tripled in comparison with the same period a year earlier to 604 million marks. However, revenue actually fell by 200 million marks.

    Prosecutors maintain the brothers inflated numbers with business deals that hadn't been concluded, or with sums that were invented or were backdated.

    The Haffas have rejected the charges, insisting that they made the statements to the best of their knowledge at the time and in good conscience. Defense attorney Rainer Hamm pleaded for their acquittal.

    The court did not immediately set a date for the verdict.

    EM.TV produces and distributes cartoons and handles German-language licensing and merchandising rights, including the rights for Pokemon.

    EM.TV was founded in 1989 and traded on Germany's tech-heavy Neuer Markt. But its February 2000 purchase of the Jim Henson Co., the creator of Kermit the Frog and the Muppets, and half of Formula One motor racing a month later boosted debt and failed to provide the expected returns.
     
  2. BoyRaisin2

    BoyRaisin2 Active Member

    No clue what this means, but the Haffas suck. Bye now!
     
  3. Cantus Rock

    Cantus Rock New Member

    *Thinks this a a question best answered by Luke*

    Okay...now, I have heard all about the doings of the EM.TV execs, and their trials, etc. But, I have also seen many reports and articles stating that the company is releasing more new original cartoon shows than ever. How is the balance maintained when the company is about to go belly up? I mean, are the other senior stock-holders keeping the companies mainframe in tact in a hopes that the new shows will draw viewers and hence increase revenue?

    Do help the youngin's, wise ones, for they do not know the ways of big business in the children's entertainment feild. :)

    -Matt
     
  4. BoyRaisin2

    BoyRaisin2 Active Member

    You know what? I've been thinking of something. If it's indeed true that the Creature Shop is no longer a Henson division, and, when EM.TV sells Henson and repays their loan, well, since EM.TV has paid the money it borrowed, could THEY actually keep the Creature Shop if they wanted to?
     
  5. Crazy Harry

    Crazy Harry New Member

    Uhhhhhhhhhhhhhhhhhhhheeerrrrrrrrrrrrrrrrrrrrrrrrrrr...

    Whazza?

    Are the Haffas going to jail or not?
     
  6. Luke

    Luke Active Member

    But, I have also seen many reports and articles stating that the company is releasing more new original cartoon shows than ever. How is the balance maintained when the company is about to go belly up?

    Credit, existing production deals, existing funds, income from shows they already distribute internationally (Hoobs, Contruction Site, TMS, Fraggle Rock etc etc). They aren't quite going belly up yet.

    well, since EM.TV has paid the money it borrowed, could THEY actually keep the Creature Shop if they wanted to?

    Yes, they most certainly could !

    Are the Haffas going to jail or not?

    We don't know - but very, very unlikely unless they are naughty little TV execs again in the near future.

    That's my take on it - hope that helps !
     
  7. BoyRaisin2

    BoyRaisin2 Active Member

    German b*stards.
     


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