Constantin will fight hostile takeover

Highlight to buy EM.TV's stake in co.

BERLIN — The management of Constantin Film said Thursday it will fight a hostile takeover by Swiss-German distributor Highlight Communications.

Constantin’s management and supervisory boards met Thursday to discuss “defensive measures” against the planned takeover.

On Wednesday Highlight agreed to buy TV license trader EM.TV’s 16.4% stake in Constantin, giving Highlight a 41.4% stake in the publicly listed company. In accordance with German law, Highlight has to make an offer to Constantin’s minority shareholders for an additional 33.5%.

The takeover would thus leave Highlight with nearly 75% and considerably reduce the power of Constantin topper Bernd Eichinger, who holds 25.1%.

Highlight would pay minority shareholders $3.97 per share, the same price it agreed to pay EM.TV. Highlight is set to pay EM.TV $8.2 million plus provide the cash-strapped kidvidder with a loan in the single-digit millions.

Constantin said it would seek alternatives to Highlight’s acquisition, saying it would release a more detailed plan on Tuesday. Constantin shares, which rose 17% Wednesday following news of Highlight’s plans, went up again by nearly 10% Thursday before settling at $4.30.

More Film

  • SAG Awards Snubs and Suprises

    SAG Nominations: 16 Biggest Snubs and Surprises

    BERLIN — The management of Constantin Film said Thursday it will fight a hostile takeover by Swiss-German distributor Highlight Communications. Constantin’s management and supervisory boards met Thursday to discuss “defensive measures” against the planned takeover. On Wednesday Highlight agreed to buy TV license trader EM.TV’s 16.4% stake in Constantin, giving Highlight a 41.4% stake in […]

  • Three Billboards Stranger Things

    SAG Award Nominations Scorecard: Fox Searchlight, Netflix Top List

    BERLIN — The management of Constantin Film said Thursday it will fight a hostile takeover by Swiss-German distributor Highlight Communications. Constantin’s management and supervisory boards met Thursday to discuss “defensive measures” against the planned takeover. On Wednesday Highlight agreed to buy TV license trader EM.TV’s 16.4% stake in Constantin, giving Highlight a 41.4% stake in […]

  • Lady Bird Three Billboards

    SAG Awards: Are 'Lady Bird' and 'Three Billboards' Your New Oscar Frontrunners?

    BERLIN — The management of Constantin Film said Thursday it will fight a hostile takeover by Swiss-German distributor Highlight Communications. Constantin’s management and supervisory boards met Thursday to discuss “defensive measures” against the planned takeover. On Wednesday Highlight agreed to buy TV license trader EM.TV’s 16.4% stake in Constantin, giving Highlight a 41.4% stake in […]

  • Rupert Murdoch Bob Iger Disney Fox

    Disney-Fox Deal: 10 Burning Questions as Takeover Deal Looms

    BERLIN — The management of Constantin Film said Thursday it will fight a hostile takeover by Swiss-German distributor Highlight Communications. Constantin’s management and supervisory boards met Thursday to discuss “defensive measures” against the planned takeover. On Wednesday Highlight agreed to buy TV license trader EM.TV’s 16.4% stake in Constantin, giving Highlight a 41.4% stake in […]

  • Three Billboards Stranger Things SAG Nominations

    Screen Actors Guild Award Nominations: 'Three Billboards' Dominates, 'The Post' Shut Out

    BERLIN — The management of Constantin Film said Thursday it will fight a hostile takeover by Swiss-German distributor Highlight Communications. Constantin’s management and supervisory boards met Thursday to discuss “defensive measures” against the planned takeover. On Wednesday Highlight agreed to buy TV license trader EM.TV’s 16.4% stake in Constantin, giving Highlight a 41.4% stake in […]

  • Olivia Munn Niecy Nash

    SAG Award Nominations: Complete List

    BERLIN — The management of Constantin Film said Thursday it will fight a hostile takeover by Swiss-German distributor Highlight Communications. Constantin’s management and supervisory boards met Thursday to discuss “defensive measures” against the planned takeover. On Wednesday Highlight agreed to buy TV license trader EM.TV’s 16.4% stake in Constantin, giving Highlight a 41.4% stake in […]

  • Sag Awards Preview

    How to Watch the SAG Awards Nominations Live

    BERLIN — The management of Constantin Film said Thursday it will fight a hostile takeover by Swiss-German distributor Highlight Communications. Constantin’s management and supervisory boards met Thursday to discuss “defensive measures” against the planned takeover. On Wednesday Highlight agreed to buy TV license trader EM.TV’s 16.4% stake in Constantin, giving Highlight a 41.4% stake in […]

More From Our Brands

Access exclusive content