TV Loonland Increased Earnings Estimates By Four Times
On Monday, November 6, 2000, German children's TV producer and rights buyer TV Loonland announced that it expects annual sales to top DM127 million (US$55.9 million) for 2000. This report is almost four times its original estimate of DM32.7 million ($14.4 million) when the German company went public in March. It's pretax profit is estimated to be DM25.5 million ($11.2 million), increased from DM18.6 million ($8.2 million). TV Loonland attributes the growth to its recent international acquisitions, including the purchase of France's Salsa Distribution and U.K. production studio Telemagination. The children's producer forecasts that its recent acquisition of Sony Wonder's television catalog will affect TV Loonland's profits next year.