EM.TV Acquires Rest of Junior Library
Created 07/05/2004 - 23:00
EM.TV has finalized its E13.5 million acquisition of Kirch Media's remaining 50% of their jointly held Junior TV program library, and settled outstanding legal and licensing issues plus all mutual claims with the bankrupt Kirch.
EM.TV's management is also seeking $158 million in financial damages "out of and, if necessary, in court" from EM.TV founder Thomas Haffa and his brother, ex-cfo Florian Haffa, plus former executive and supervisory board members. EM.TV accuses them of improprieties centering around the 2000 acquisition of a stake in Formula One racing.
The Junior TV acquisition was announced in March 27, but was finalized after approval from German antitrust authorities.