EM.Sport Media AG has sold its entertainment division, previously known as EM.Entertainment, to Belgian media company Studio 100. A major provider of children’s and youth entertainment in the Benelux region, Studio 100 has agreed shell out $41 million Euro ($63.5 million), a sale price that remains subject to alteration until the transaction is finalized. EM.Sport Media will also retain future proceeds from claims against the insolvency administrator of KirchMedia GmbH & Co. KG a.A. i.l., amounting to approximately $3.8 to $6.2 million.
Selling off its entertainment business will allow EM.Sport Media to again focus its efforts on expanding its sports activities. The company has also increased its shares in Highlight Communications to 37.6%, and plans to drive both companies forward to create a leading media group within the European sports, film and TV production sectors.
The transaction remains subject to the approval of the antitrust authorities in Germany and Austria, as well as the Bavarian Regulatory Authority for Commercial Broadcasting (BLM) and the Commission on Concentration in the Media (KEK). EM.Sport Media was originally seeking $132 million for the entertainment unit, but had trouble finding a taker at that price.
EM.Sport Media’s distribution library includes the animated kid shows Master Raindrop, a co-production with Big Communications and Flux Animation Studio; Zigby from Greenpatch Prods., Big Communications and Thunderbird Films; Croco Loco, a co-production between EM.Entertainment and Peekaboo Prods. GmbH; Staines Down Drains from Flying Bark Prods.; and Zeke’s Pad, produced by My Pad Prods. Inc., a partnership between Bardel Ent., Leaping Lizard Prods. Inc. and Avrill Stark Ent. PTY. Ltd, a division of Flying Bark Prods.
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