Red ink flows but EM.TV pledges new start

World Brief

German kidvidder EM.TV saw losses last year of $1.29 billion, worse than analysts’ forecasts and more than double the group’s revenues of $590 million.

EM.TV said the results stem from restructuring and adjustments necessary to make a fresh start. These included a $599 million writedown for its Formula One racing stake and a $315 million writedown for its purchase of the Jim Henson Co. due to a re-evaluation of these assets.

“We have cleaned the slate,” CEO Thomas Haffa said at a news conference April 30. Haffa said EM.TV would concentrate on children’s programming and reduce its stake in Formula One racing to 17.5%, giving new partner Kirch Group a 57.5% stake in the entity. He said the company is seeking a partner for its Jim Henson unit or looking to sell it. EM.TV said that it still had $691 million in capital available and had reduced its bank debts from $691 million to $108 million.

More TV

  • 'Saturday Night Live' China Version Yanked

    Chinese Version of 'Saturday Night Live' Yanked From Youku

    German kidvidder EM.TV saw losses last year of $1.29 billion, worse than analysts’ forecasts and more than double the group’s revenues of $590 million. EM.TV said the results stem from restructuring and adjustments necessary to make a fresh start. These included a $599 million writedown for its Formula One racing stake and a $315 million […]

  • Fox Sports World Cup Production BTS

    Global Broadcasters Score Big With Live World Cup Final Ratings

    German kidvidder EM.TV saw losses last year of $1.29 billion, worse than analysts’ forecasts and more than double the group’s revenues of $590 million. EM.TV said the results stem from restructuring and adjustments necessary to make a fresh start. These included a $599 million writedown for its Formula One racing stake and a $315 million […]

  • The Bold Type Meghann Fahy

    'The Bold Type' Boss and Star on 'Normalizing Conversations About Gun Control'

    German kidvidder EM.TV saw losses last year of $1.29 billion, worse than analysts’ forecasts and more than double the group’s revenues of $590 million. EM.TV said the results stem from restructuring and adjustments necessary to make a fresh start. These included a $599 million writedown for its Formula One racing stake and a $315 million […]

  • Streaming Subscribers Overtake Pay-TV Customers for

    Streaming Subscribers Overtake Pay-TV Customers for First Time in the U.K.

    German kidvidder EM.TV saw losses last year of $1.29 billion, worse than analysts’ forecasts and more than double the group’s revenues of $590 million. EM.TV said the results stem from restructuring and adjustments necessary to make a fresh start. These included a $599 million writedown for its Formula One racing stake and a $315 million […]

  • The Fast and the Furious

    TV News Roundup: Paramount Network Sets Paul Walker Documentary Premiere Date

    German kidvidder EM.TV saw losses last year of $1.29 billion, worse than analysts’ forecasts and more than double the group’s revenues of $590 million. EM.TV said the results stem from restructuring and adjustments necessary to make a fresh start. These included a $599 million writedown for its Formula One racing stake and a $315 million […]

  • Elena Kampouris Sacred Lies Facebook Watch

    TV Review: 'Sacred Lies' on Facebook Watch

    German kidvidder EM.TV saw losses last year of $1.29 billion, worse than analysts’ forecasts and more than double the group’s revenues of $590 million. EM.TV said the results stem from restructuring and adjustments necessary to make a fresh start. These included a $599 million writedown for its Formula One racing stake and a $315 million […]

More From Our Brands

Access exclusive content