Studio100’s Acquisition of EM.Entertainment Complete

ISMANING, July 18:
EM.Sport Media has completed the sale of its kids’ and youth content business,
EM.Entertainment, to the Belgian family entertainment company Studio100.

The parties have received
approval for the merger from the Bavarian Regulatory Authority for Commercial
Broadcasting (BLM) and the Commission on Concentration in the Media (KEK). The
purchase price was 41 million euros. Working capital adjustments may still have
a positive effect on the overall selling price. EM.Sport Media will retain
future proceeds from claims against the insolvency administrator of KirchMedia,
amounting to around 2.5 million to 4 million euros.

Effective immediately, Patrick Elmendorff, the general manager of Studio100 Media, and Hans
Bourlon, the CEO and co-shareholder of Studio100, will take over as new
managing directors of both companies. For a transitional period of two to three
months, the companies will
continue to operate under their current names.

—By Mansha Daswani