EM.TV Shares Rocket Upward
EM.TV's stock price made a hefty jump upward on Monday, December 18, 2000 after announcing a creditors' banks' backing. Over the weekend the kids production and merchandising firm had positive meetings with 40 creditor banks to help fund a company overhaul as part of media house KirschGroup's purchase of a non-controlling share in EM.TV. The company's stock jumped up 18% to finish out Monday at 6.73 euros (US$6). Since February, EM.TV shares have lost 90% of their value after the company reported accounting errors in its acquisition of the Jim Henson Co. and Formula One racing and a large reduction in its year-end earnings due to a low profit margin.