BERLIN — Susanne Schosser has ankled her post of managing director at EM.Entertainment as its parent group, EM.Sport Media, seeks to find a buyer for its children’s programming division.
Move follows EM.Sport’s decision on Wednesday to slash EM.Entertainment’s going price from Euros 90 million ($132 million) to $59 million after failing to attract buyers for the unit, which once made up the core business of the company, formerly known as EM.TV.
The group split its main divisions last year after setting a new strategic focus on sports rights, production and broadcasting and deciding to sell off the kidvid arm.
EM.Sport has also extended the sale of the unit, saying “sustained weakness in demand for license products and new productions within the children’s and youth entertainment sector, as well as the general current financial crisis” had exacerbated the process and resulted in fewer offers than expected.
In the first nine months of 2007, EM.Entertainment’s net profit fell to $880,000 from $4.5 million last year. Overall revenue climbed 5.4% to $242.3 million.
EM.Sport topper Werner Klatten will oversee operations at EM.Entertainment following Schosser’s departure.
Before moving to EM.TV in 2005, Schosser had served as head of programming at tyke web Super RTL.
EM.Sport is likely to play a major role in the coverage of top league Bundesliga soccer beginning in 2009. Media mogul Leo Kirch, who controls Bundesliga broadcast rights from 2009-15, took an 11.5% in EM.Sport last year in exchange for his 25% stake in Swiss media group Highlight Communications, plus $97 million. Kirch is looking to produce and license ready-to-air Bundesliga coverage, for which EM.Sport’s sports production assets could come in handy.