Investment Group In Deal for Henson Company Stake
by Staff -- Publishers Weekly, 1/6/2003
An investment group led by former Viacom executive Dean Valentine has signed a letter of intent to acquire a 49.9% stake in the Jim Henson Company from the German conglomerate EM.TV and Merchandising. EM.TV acquired the owner of the Muppets in 2000 for $680 million, but has struggled under a heavy debt load.
If the sale is completed, EM.TV will use the proceeds to pay down its debt, while Valentine will take charge of Henson's operations. Valentine most recently was CEO of Viacom's UPN network and before that was president of Disney/ Touchstone Network Television and Animation. He called Henson "one of the great global brands in the entertainment world," and said he planned to expand Henson "into all areas of family entertainment."
