RTV under fire for $99 mil operating loss
COLOGNE — Bankrupt Helkon Media said Monday it has received funding to continue in business from its creditor banks.
It intends to continue streamlining to focus on domestic film licensing following the sale Friday of its stake in TV licensing company Peppermint.
Meanwhile, kidvidder RTV Family, which has left the Neuer Markt and narrowly escaped insolvency, came under fire from angry shareholders at an extraordinary meeting on Monday. Due to writeoffs on claims and film assets, RTV announced an operating loss of €101 million ($99 million) and revenues that halved to $16 million.
Another kidvidder, TV Loonland, announced an expansion into the U.K. home entertainment market. It lifted its stake in video/DVD distributor Metrodome Group from 30% to 54%. TV Loonland’s productions include “Yvon of the Yukon,” “The Cramp Twins” and “Little Ghosts.”