At its annual general meeting in Munich on June 26, 2007, the management board of EM.TV AG -- in future EM.Sport Media AG -- laid out its plans for strong revenue growth during the upcoming years.
Following the strategic decision, announced on March 22, 2007, to concentrate future business on the sports sector and to dispose of its interests in the entertainment sector (children's and youth programs), the company is striving to at least double its revenues from the sports sector from around 220 million euros (2006) to significantly more than 400 million euros by 2010.
Werner E. Klatten, ceo of EM.TV AG, "Our sports activities are fast-growing, successfully positioned and profitable. With TV station DSF, online platform Sport1 and production services provider PLAZAMEDIA, we have at our disposal three companies that are each market leaders in their respective segments. This presents us with excellent prospects for further growth."
At the AGM, the shareholders of EM.TV AG agreed all motions on the agenda with a majority of more than 99% respectively. At the time the motions were passed, 26.43% of the company's authorized share capital was represented. A total of around 600 shareholders were present.
Motions passed by the AGM included:
* EM.TV AG will change its company name to EM.Sport Media AG. The words "Sport" and "Media" emphasize the sector in which the activities of the company will be concentrated in future.
* The company will transfer its headquarters from Unterfoehring near Munich to neighboring Ismaning. This is the location where DSF, PLAZAMEDIA and Sport1 are already headquartered. Geographical proximity to the company's subsidiaries will lead to increased efficiency and cost savings.
* The supervisory board will be expanded from three to six members. This move takes into account the increasing legal obligations borne by the controlling body. Furthermore, it means that the supervisory board will also better reflect the shareholder structure.
For more information, visit www.em.tv/.