Englewood, Colo.
-- Multichannel News, 7/31/2000
Englewood, Colo.-Crown Media Holdings Inc. and German media company EM.TV & Merchandising AG said last Wednesday that Crown would exchange 5.4 million shares (8.2 percent) of its stock for EM.TV's stakes in Odyssey and The Kermit Channel. The deal was valued at $89 million.
The two companies also agreed to create a branded block of programming to air on Odyssey, Crown's U.S. cable network.
EM.TV acquired 22.5 percent of Odyssey and 50 percent of Kermit, a pay TV channel in Asia, when it bought The Jim Henson Co. in February.
