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EM.TV sells part of Muppet empire

AS EM.TV's share price dived on Monday, the company announced plans to sell the rights to merchandise the characters from The Sesame Street educational TV program to a New York company called Sesame Workshop, which produces Sesame Street and The Muppet Show. The rights had previously been shared between EM.TV and Sesame Workshop. Financial details of the deal have not been revealed.

The two companies have also agreed to produce two new TV series a year for the next five years. Under the agreement EM.TV will expand its merchandising operations of Muppet memorabilia in Europe.

The deal was clearly designed to bolster investor confidence in EM.TV by reducing the debt burden of the company.

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