EM.TV & Merchandising AG Acquires The Jim Henson Company

Posted on February 22, 2000

EM.TV & Merchandising AG (``EM.TV''), a media, animated cartoon and retail company in Europe, and the Jim Henson Family (Brian, Lisa, Cheryl, John and Heather Henson) owner of The Jim Henson Company (``Henson''), a leading producer of kids and family entertainment, have announced that they have signed a definitive agreement under which EM.TV will acquire 100% of Henson in a cash-and-stock transaction notionally valued at $680 million.

Established in 1958 and headquartered in Los Angeles (Hollywood), with offices and production facilities in New York and London, Henson is one of the world's best-known producer of family entertainment, the creator and exclusive rights holder of all Sesame Street characters. The company's library comprises more than 450 hours of programming and includes series, TV movies and specials such as The Muppet Show, Jim Henson's Muppet Babies, Fraggle Rock, the Muppet movies and the more recent Bear in the Big Blue House and Farscape.

Thomas Haffa, Chairman and Chief Executive Officer of EM.TV & Merchandising AG which he founded in 1989 said, ``This acquisition gives us access to one of the world's most outstanding product libraries, and represents a major milestone in the development of our company. By acquiring The Jim Henson Company, we gain some of the most powerful and enduring kids' and family brands worldwide and get access to the world's biggest and most important media market.''

Brian Henson, President, Chief Executive Officer, The Jim Henson Company, said, ``This agreement brings together two great companies led by founding families who share a deep commitment to offering the very best in family entertainment, to establishing the combined enterprise as a major global growth platform, and to building its value for all of its employees, business partners and millions of customers and fans. I am also personally excited that with Charlie Rivkin assuming the role of Chief Executive Officer upon completion of the transaction, I, as Chairman, will be able to devote my energies to my first love, which is driving the creative and technological forces of the company.''