In the hopes of spurring a sale months after putting its children’s entertainment segment on the market, Em.SportMedia has slashed the price tag and has asked MD Susanne Schosser to step down.
Company officials point to the sustained lackluster performance of license products and new productions in the children and youth sectors as the key reasons in its failure to spin of its kids biz, and have devalued the unit by more than 50% to US $58 million, down from US$130.8 million. And effective immediately, Schosser is no longer with EM.TV.
While accepting offers on the struggling kids unit, EM.Sport will focus its attention on its more successful Sports business, which it says has been unaffected by the market downturn.
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