TV Loonland in Trouble?
Posted: Fri Jun 01, 2007 1:40 pmVariety has reported that things are not going that great with TV Loonland recently. TV Loonland bought Sunbow Production in 2000, and thus owns much of the media rights for the original series of The Transformers for the international markets, as wel as some of the more recent incarnations of that cartoon series.
According to the article the company suffered a major blow after announcing earlier this year that they had a massive loss in profits of 20 million euro during 2006. And now the company was forced to postpone it publication of their figures of 2006 and the first quarter of 2007 due to ongoing restructuring. Including that two supervisory board members, Thomas Mayrhofer and Michael Bischoff, had already resigned. This resulted in a 27% drop in value over the company's stock, down to €0,91 per share.
The company executives have confirmed that they are already in talks with unidentified investers and a bank consortium, which might lead to selling TV Loonland. If this will happen, the future of the media branche of Transformers (which means TV broadcasts and DVD sales) on the international market, especially Europe, may end up in doubt.
According to the article the company suffered a major blow after announcing earlier this year that they had a massive loss in profits of 20 million euro during 2006. And now the company was forced to postpone it publication of their figures of 2006 and the first quarter of 2007 due to ongoing restructuring. Including that two supervisory board members, Thomas Mayrhofer and Michael Bischoff, had already resigned. This resulted in a 27% drop in value over the company's stock, down to €0,91 per share.
The company executives have confirmed that they are already in talks with unidentified investers and a bank consortium, which might lead to selling TV Loonland. If this will happen, the future of the media branche of Transformers (which means TV broadcasts and DVD sales) on the international market, especially Europe, may end up in doubt.
