Atlas F1 News Service, a Reuters report

EM.TV to Report $450 Million Loss

Saturday April 28th, 2001

German media company EM.TV & Merchandising AG is due to report 2000 earnings figures on Monday and the management board will discuss the future direction of the company.

The company late on Friday called a news conference to present its 2000 figures on Monday, the last day German stock exchange operator Deutsche Boerse had said the company could report the results.

Analysts have been reluctant to give specific forecasts for the results but say the company could report a loss as large as 1.0 billion marks ($457.7 million) as it was burdened by hefty writedowns last year.

EM.TV ran up major debts in a shopping spree that included The Jim Henderson Company, the maker of the Muppets, and a 50 percent stake in Formula One holding company SLEC.

The company was rescued by cross-town peer Kirch in a deal signed in February. As part of the deal, Kirch took a 16.74 percent stake in EM.TV.

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