German media group EM.TV is to sell a major stake in its Jim Henson children’s programming arm.
A consortium led by Dean Valentine, quondam ceo of America’s United Paramount TV network, is purchasing a 49.9% holding in the unit. US firm Europlay Capital Advisors is funding the deal, which is expected to close next month. Financial details have not been disclosed.
EM.TV purchased Jim Henson, in which it will retain a majority stake, for €670 million ($693m; £434m) in March 2000. It will use the proceeds of the sale to repay debt.
Data sourced from: Financial Times; additional data by WARC staff