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Henson sale seeing some trouble
by Dani Moure - Monday, December 30th 2002

Category: Old News

According to a Reuters story on Friday, the sale of a minority stake (49.9%) in the Jim Henson Co. by EM.TV to a group led by former TV executive Dean Valentine hangs in the balance, with a number of tenuous financing elements that could delay or undo the deal.

According to the story, EM.TV, who had been seeking a buyer for over a year and signed a letter of intent to sell to Valentine's groupe, is still shopping around Jim Henson's Creature Shop. The deal to sell apparently depends on raising enough money for EM.TV to cover a $64 million debt payment. It's said that Valentine's group has offered $30 million for their stake in Henson. To make up the rest, EM.TV would need to monetise some $70 million owed by Sesame Workshop over the next eight years, following their purchase of the Sesame Street characters.

People familiar with the matter said EM.TV has continued talks with other bidders, some of whom also have signed letters of intent, in case Valentine's financing falls through.

To read the full story, visit Reuters.com.

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