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EM.TV announces press conference

Courtesy of Yahoo News
February 18, 2000

German media group EM.TV & Merchandising AG on Friday called a news conference for Monday, raising speculation it could announce an acquisition.

EM.TV said the briefing in Munich would address "current events'' at the group. A spokeswoman declined to give any further information.

EM.TV shares rose sharply on the news to stand 12.40 percent higher at 114.50 euros in late afternoon trade.

EM.TV said recently it wanted to boost sales and develop into a global market leader by making a U.S. acquisition in the near future.

Finance Director Florian Haffa has said the media production and marketing group, which focuses on children's entertainment, is targeting a globally-established U.S. company with cartoon interests to give EM.TV immediate access to the U.S. market.

He said in December that a deal should be completed within three to six months.

The Los Angeles Times recently reported that EM.TV had made an offer for the Jim Henson Co., which offers children's programmes and which is owned by the children of the creator of "The Muppet Show.''

The LA Times reported EM.TV as making Henson a takeover offer of $800 million. Henson co-chief Charles Rivlin dismissed the LA Times report as speculation.