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Latest Satellite News Discussion, TV Loonland ready for asset sale at General Satellite News forum; TV Loonland ready for asset sale Written by Chris Forrester Sunday, 07 February 2010 04:34 Not so many years ago ...

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TV Loonland ready for asset sale
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Thumbs up TV Loonland ready for asset sale - 07-February-2010, 15:50

TV Loonland ready for asset sale
Written by Chris Forrester
Sunday, 07 February 2010 04:34

Not so many years ago TV Loonland enjoyed one of the larger sales booths at places like the MIPtv programming market. Now its bankrupt assets are ready for sale.

Its primary programme rights, including top-draw shows like the ever-popular Transformers and GI Joe series, have been taken back by their original rights holders. KPMG is handling the sale of the companys remaining assets.

A statement from TV Loonlands lawyers, handling the insolvency, says: The insolvent TV-Loonland AG is now prepared to start the sales process of its assets (movies) in a structured process run by KPMG. Following the information of the preliminary insolvency administrator, the Munich attorney Dr. Wolfgang Ott, the focus lays on the realisation of the companys assets (movies), including i.e. Pettson and Findus, Cramp Twins, Raymond or The Owl, and further still ongoing productions. It seems to be rather unlikely to sell the entire business operation to an investor.

The preparations were difficult, because the information and documentation necessary for the sales process first had to be concentrated and cleared from the different locations of TV Loonland AG, namely London, Paris and Munich (Unterfhring). However, this is now nearly finished. Those interested parties already known to the seller will receive the information necessary for beginning the sales process in the next few days. Other interested parties are invited to obtain information by KPMG via email: [email protected] This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

The transfer will last at least until the end of March 2010 and start only after the commencement of the insolvency proceedings. It is deemed to have the commencement of these proceedings early March 2010.

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