Helkon banks on creditors

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.”

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Scene News from Variety

Loading