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EM.TV expected to take over Henson

Courtesy of Reuters
February 20, 2000

German media group EM.TV & Merchandising AG is due to announce on Monday the takeover of U.S. children's program company Jim Henson Co., Focus news weekly said.

The magazine said in a pre-release of its Monday edition article that the purchase of the company founded by the creator of "The Muppet Show'' would be financed with the proceeds from a $394.5 million convertible bond issue and EM.TV's stock.

Focus said the price tag for the transaction would be significantly lower than $800 million named in a recent article in The Los Angeles Times, which Henson co-chief Charles Rivlin dismissed as speculation.

EM.TV declined comment on the Focus report.

The Munich-based company on Friday called a news conference for Monday sparking speculation that it was poised to announce a U.S. deal.

EM.TV said recently it wanted to boost sales and develop into a global market leader in children's entertainment by making a U.S. acquisition.