BERLIN — Financially troubled kidvidder EM.TV continues to streamline and restructure itself with the sale of Munich-based post-production outfit Networx.
EM.TV has undertaken a course of radical reforms to shed all non-core assets.
Latest move comes in the form of a management buyout at Networx, with managing director Stephan Kleinschmidt acquiring EM.TV’s 100% stake in the outfit. Financial details were not given. EM.TV said it will continue an amicable association with Networx.
Last week, EM.TV announced the sale of its holdings in Formula One racing to German media group Kirch.