EM.TV Stock Hits New Low, Buy-Out Rumors Abound

On Tuesday, November 28, 2000, EM.TV & Merchandising AG shares hit a new two-year low of 17.58 euros (US$15), but by the end of the day rebounded a bit to finish out the day at 21.50 euros ($18.42). A company spokesman assured the public that EM.TV is "definitely not broke." Rumors abounded yesterday that German media giant KirchGroup is in talks to buy a controlling stake in the branded merchandising and children's TV company. EM.TV is scheduled to release its third quarter results on Friday. In February, EM.TV stock peaked at more than 110 euros ($94.2), but plummeted when the company announced a major accounting error in its acquisition of the Jim Henson Co. and Formula One Racing.

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