Martin Weigold, CFO of Fox Kids Europe, will remain seated in his position for another two years in the game of musical chairs underway at the broadcaster ever since the Walt Disney Company bought a majority interest in FKE. Weigold has been with FKE since 1999. Previously Weigold was VP of finance at Walt Disney TV Int'l and served on the board of Super RTL, the German free-to-air broadcaster. Bruce Steinberg, CEO of FKE who replaced FKE founder Ynon Kreitz when he left the network late last year, said, "I am delighted that he [Weigold] has decided to stay on with us as a key member of the FKE management team." Thomas Staggs, SEVP/CFO of the Walt Disney Co., said FKE will benefit from Weigold's in-depth knowledge of both FKE and Disney. In its recently released 2002 Annual Report, FKE reported its channels reach more than 32 million households across Europe and the Middle East (56 countries in 17 languages), with a local channel in every major European market. It distributes a library of approximately 6,300 episodes to 120 broadcasters in 50 countries. As of September 30, 2002, FKE has more than $60M in net cash balances, which is more than it retained from the proceeds of its initial public offering three years ago. For more, check out www.foxkidseurope.com.
