Company to focus on sports
BERLIN — Sports and children’s programming licensor EM.TV said its first quarter earnings (EBIT) jumped 41% to Euros 10.3 million ($13.9 million) on revenues of Euros 60.3 million ($81.4 million), up from Euros 60.1 million ($81.1 million) a year earlier.
EM.TV, which also announced it plans to sell off all children’s programming this year and focus on sports, said that it had achieved a significant increase in sports revenues in the first quarter that compensated for the one-off impact of a major ZDF entertainment programming delivery made in the first quarter of 2006.
EM.TV topper Werner Klatten said that sports are becoming increasingly important and hold the promise of stronger growth than in the satiated market for children’s and teenagers’ programming.
He said EM.TV has been in talks with interested buyers for subsidiaries Junior.TV and EM.Entertainment, and with regards to cartoon series such as “Biene Maja” and “Wickie.” He said that should be wrapped up within the next 12 months.
EM.TV will rename itself EM.Sport Media AG from the annual shareholder meeting at the end of June, he said.
EM.TV, which already owns sports broadcaster DSF and Internet sport portal Sport1, will make further acquisitions in the year to come, he said.