TV-Loonland is laying off nine members of the 15-person staff at its Munich office as part of its ongoing restructure.
The Munich, Germany-based brand-management company that handles TV brands such as Little Princess and Pettersson and Findus is in the middle of a restructuring. The affected employees should be departing later this summer and no more lay-offs are expected in Munich or within TV-L’s international group. The company, however, is continuing detailed discussions in respect to the sale of its shares in UK film distributor Metrodome.
Loonland reported a pre-tax (EBIT) loss of US$2.8 million on revenue of US$4.7 million in third-quarter of 2007.