Cologne, Germany -- TV Loonland, the problem child of the international kids TV industry, has filed for insolvency protection after failing to raise cash to cover its debts.
Supervisory board chairman Michael Briem was named company CEO Wednesday following the bankruptcy filing. He replaces Simon Flamank, who jumped ship in October to become COO and Cfo of Brit media group Handmade. Flamank joined Loonland in 2006 after a shareholder revolt ousted previous boss Selma Kappel.
Once a high-flyer on Germany's Neuer Markt index, TV Loonland has licenses to animated kids series such as "The Cramp Twins" and "Pettson and Findus". But the Munich-based company has been struggling for years and the bankruptcy filing was expected.
Supervisory board chairman Michael Briem was named company CEO Wednesday following the bankruptcy filing. He replaces Simon Flamank, who jumped ship in October to become COO and Cfo of Brit media group Handmade. Flamank joined Loonland in 2006 after a shareholder revolt ousted previous boss Selma Kappel.
Once a high-flyer on Germany's Neuer Markt index, TV Loonland has licenses to animated kids series such as "The Cramp Twins" and "Pettson and Findus". But the Munich-based company has been struggling for years and the bankruptcy filing was expected.
- 12/9/2009
- by By Scott Roxborough
- The Hollywood Reporter - Movie News
MUNICH -- Family entertainment specialist TV-Loonland said Wednesday it had vastly improved the performance of its "traditionally strong" distribution unit during the first quarter of 2005, increasing revenues by 131% to 1.8 million ($2.2 million), up from 800,000 ($978,700) over the same period in 2004. Group revenues for the first quarter advanced slightly, from 2.5 million to 2.9 millioin ($3.5 million) year-to-year. TV-Loonland attributed the rise to a mild revival in the television market and better sales of such hit cartoon series as The Cramp Twins. The Home Entertainment unit, bolstered by Loonland's U.K. subsidiary Metrodome, posted a slight decrease in income, from 1.3 million last year to 1 million ($1.2 million) over the same period in 2005.
COLOGNE, Germany -- German media group TV Loonland said Wednesday that it booked a third-quarter net profit of 1.2 million ($1.6 million) on sales of 5.2 million ($6.9 million), compared with a year-earlier 1.6 million net loss on revenue of 3.1 million. Much of that success came from The Cramp Twins, a kids animation series that TV Loonland has sold to most major territories, including the Cartoon Network in the United States, CBBC in the United Kingdom and Super RTL in Germany. Loonland also reported strong growth at its U.K. home entertainment subsidiary Metronome, which profited from strong DVD sales of Patty Jenkins' Monster and the director's cut of Richard Kelly's cult favorite Donnie Darko. For the year to date, Loonland is still in the red, however, with a net loss of 1 million ($1.3 million) in the first nine months of 2004 on sales of 10.5 million ($14 million). Loonland CEO Peter Voelke attributed this to the ongoing weakness of the television licensing market, particularly in Germany.
- 12/2/2004
- The Hollywood Reporter - Movie News
LONDON -- Turner Broadcasting System said Thursday that it has appointed Finn Arnesen to the joint roles of international head of program production and senior vp original animation and acquisitions for Europe, the Middle East and Africa. In his new position, Arnesen will report to TBS Europe president Nan Richards, TBS Asia president Steve Marcopoto and TBS Latin America president Juan Carlos Urdaneta, who share responsibility for program production. Arnesen will continue to report to Turner Entertainment Networks senior vp Tina McAnn for all areas relating to animation and acquisitions, Turner said. Arnesen was responsible for producing The Cramp Twins for the BBC and Cartoon Network as well as upcoming projects that include CGI animated Chop Socky Chooks, a joint venture with Aardman Animation.
- 8/20/2004
- The Hollywood Reporter - Movie News
COLOGNE, Germany -- Shares in German kids vid producer TV Loonland plunged Tuesday after the Munich-based company announced losses of more than $70 million and a major drop in revenue that it attributed to write-offs of film assets and goodwill. In a required statement to the German stock market, Loonland said it booked a net loss of 74.5 million ($81.1 million) in 2002, compared with a 9 million profit a year earlier. Sales more than halved to 36.8 million ($40.1 million) against 77.5 million in 2001. TV Loonland shares slumped more than 18% Tuesday, closing at 0.98 ($1.07). The German group, which produces such cartoons as The Cramp Twins and Da Mob, said write-offs last year amounted to 88.6 million ($96.4 million), mostly due to depreciation and amortization of the company's film assets. It said it was also hit by losses from South Korean subsidiary SRE Corp., which the German group sold off earlier this year. Loonland said the market climate remains bleak, with broadcasters reluctant to spend on new licenses. But the company insisted that cost-cutting and restructuring measures undertaken last year would bear fruit in the coming months, preparing Loonland for the industry's eventual rebound.
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