The media firm built its business on children’s TV programming, but intends to sell its kids entertainment assets in order to focus on its more profitable sports business, WorldScreen.com reported.
EM.Sport Media aims to up its revenues from sports activities to 400 million euros in 2010, from 220 million euros last year, WorldScreen.com said.
“Our sports activities are fast-growing, successfully positioned and profitable,” said Werner E. Klatten, the CEO of EM.TV. “With TV station DSF, online platform Sport1 and production services provider PLAZAMEDIA, we have at our disposal three companies that are each market leaders in their respective segments. This presents us with excellent prospects for further growth.”
In addition to changing its name, the company will transfer its headquarters to Ismaning, where DSF, PLAZAMEDIA and Sport1 are headquartered.
EM.TV, the German media company that once owned a share in Formula One, is set to change its name to EM.Sport Media.
