Kirch Ready to Raise Offer as Battle for EM.TV Hots-Up

29 January 2001

Privately-owned German media giant Kirch Gruppe is poised to sweeten the terms of its offer to acquire EM.TV as rival bidders circle the debt-beset programming provider [WAMN: 22-Jan-01].

EM.TV whose prime asset – the Jim Henson Company, creator of the Muppets – is attracting interest from the likes of Disney as well as the money men from Wall Street and London’s City - although its current exclusivity agreement with Kirch prevents any contact with other Romeos until Wednesday.

Disney has been chomping at the bit for several years to get its hands on the Muppets and those close to the situation believe Kirch will have to dig deep in order to keep its new crop of rivals at bay.

News source: Financial Times