EM.TV CEO Puts Up $14M Of His Own Cash
EM.TV's CEO Thomas Haffa has announced that he will invest DM30 million (US$14 million) of his own money into the production house in an attempt to win back shareholder confidence said THE WALL STREET JOURNAL. As a result of the move on Wednesday shares in EM.TV rose 6% to 8.38 euros ($7.80). According to insiders EM.TV's bankers ordered the money as a way for the company to hold an estimated $750 million in debt at bay. In the past year, EM.TV shares have plummeted more than 90% directly attributed to extreme profit warnings and reports of fiscal mismanagement.