From Distressed German Company
Posted by ICv2 on May 6, 2003 @ 11:00 pm CT

In a surprise move, the Henson family has announced that it is regaining control of the Jim Henson Co., home of the Muppets and other children's properties, for $78 million in cash and $11 million in company cash, according to Variety. The family took the deal with German company EM.TV out from under Classic Media (Richie Rich); Disney had been interested early but had dropped out over concerns about German bankruptcy law. The deal should help U.S. balance of payments -- the company was sold to EM.TV for $680 million three years ago (although the rights to the Sesame Street characters were sold to Sesame Workshop for $160 million two years ago). Palisades is continuing its lines of Muppets action figures this year; Sideshow is wrapping up its Muppets busts.
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