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

  • Richard Madden

    'Game of Thrones' Actor Richard Madden to Play Elton John's Manager in 'Rocketman' (EXCLUSIVE)

    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 […]

  • Graphic Novel 'Under,' About Sewer Mutants,

    Graphic Novel 'Under,' About Sewer-Dwelling Mutants, Being Adapted Into Movie (EXCLUSIVE)

    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 […]

  • Daniel KaluuyaThe Metropolitan Museum of Art's

    Daniel Kaluuya to Star in Romantic Drama 'Queen and Slim' From Lena Waithe

    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 […]

  • Durban Fest Fetes South African Women

    Durban Fest Fetes South African Women With Diverse Line-Up

    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 […]

  • Predator Comic-Con panel

    'The Predator' Teases Battling Aliens at Gory Comic-Con Panel

    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 […]

  • Durban FilmMart, CaribbeanTales Push Co-Productions for

    Durban FilmMart, CaribbeanTales Push Co-Prod Opportunities for Women of Color

    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 […]

  • New Line Comic Con

    Everything We Saw From 'It 2' During New Line's Scare Diego Comic-Con Presentation

    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