EM.TV & Merchandising has exited from the Internet activities it has concentrated in EM interactive, amidst a restructuring and re-focusing on core businesses.
German media fund specialist Victory Media will now increase its stake in EM interactive from 25.1% to 100%. The firm will continue operating as victory.tv under the new management of Claus Clausen, who also serves as managing director of Victory Film Productions.
Junior-Web, in which EM interactive had a 98% interest, will be renamed InteractiveMedia and managed by former banker Peter Kolb. The previous manager, Frank Lemm, who had held the remaining 2% in the company, will take up new duties within the Victory Media Group.
Commenting on the deal with Victory, EM.TV noted that "the development of Junior-Web as an independent platform operator did not fulfil expectations. As ever, EM.TV values the Internet as a distribution channel for attractive content and will continue to use it within its licensing business".