EM-TV und Kinowelt auf Bloomberg - 500 Beiträge pro Seite

[lilienthal]

Wer immer noch kalte Füße hat: Lesen und zurücklehnen.

EM.TV, Kinowelt to Extend Gains as They Expand, Analysts Say

EM.TV, Kinowelt to Extend Gains as They Expand, Analysts Say
Frankfurt, Sept. 4 (Bloomberg) -- Shares of EM.TV Merchandising AG, a German
children`s TV program distributor, and Kinowelt Medien AG, Germany`s
second-biggest film distributor, are poised to extend this year`s gains as they expand
abroad and fatten their rights portfolios.

EM.TV, which holds television rights to about 24,500 half- hour episodes and is
currently producing 23 series, is the third best performer on Germany`s Neuer Markt
Index so far this year, soaring 180 percent. Kinowelt, which holds rights to more than
12,000 films, jumped 150 percent. In comparison, the Neuer Markt Index rose 17
percent.

The two stocks will continue their surge as the companies step up efforts to grow
abroad and extend their rights portfolios, analysts say. In addition, as content
providers EM.TV and Kinowelt are poised to benefit from the likely expansion of
Germany`s $670 million pay-television market. ``They are surging on the rights they
already bought and on optimism of what might still be in the pipeline,`` said Christian
Lamprecht, an analyst at HypoVereinsbank AG in Munich, who rates the two
companies ``above average``.

Both companies have been on a buying spree and they don`t seem to be sated yet.
The latest step on EM.TV`s expansion path was the acquisition of a 25 percent stake
in Constantin Film AG, Germany`s largest film production company that will debut on
the Neuer Markt this month.

That`s after it bought an undisclosed stake in TFC Trickcompany, Germany`s largest
animation studio. Eventually, EM.TV will take over all of the company. The move into
animation comes as EM.TV started co-production activities.

EM.TV`s venture with Kirch Group`s TaurusFilm, called Junior.TV that markets rights
to about 20,000 episodes worldwide, has brought EM.TV several large contracts. It
signed a four-year distribution contract with Walt Disney Co.`s German unit. Disney
will take 330 hours annually of films, cartoons, and pre-school programs for
pay-television from Junior.TV`s program portfolio.

Book Venture

Earlier this year, EM.TV also agreed on a five-year contract with SAT.1, Germany`s
No. 3 broadcaster, to broadcast more than 6,000 half-hour hours of flagship program
Junior. In addition, it agreed on a book publishing venture with Egmont Holding GmbH
and a video and audio cassette marketing agreement with Edel Music AG, a German
music company.

EM.TV also holds merchandising rights to more than 150 cartoon characters,
including children`s classics like Fred Flintstone. It sells the rights to companies that
want to produce clothing lines and other products tied to characters.

This year, the company, which posted a 9-fold increase in sales in the first half to
211.9 million deutsche marks ($115 million, plans a ``giant cooperation project`` in
the media business. EM.TV, which is already presented in France, Spain, the
Netherlands and Israel through joint venture offices, aims to cover Northern Europe
and the U.K. by the end of the year.

It plans ``large international projects,`` the company said without providing further
details. The U.S. market is of special interest to EM.TV and there distribution
companies and content providers are the most attractive ones, EM.TV officials said.
The Asian and South American markets are also ``highly interesting``. In China,
EM.TV already provides cartoons to Beijing Television Station, one of the nation`s
biggest TV broadcasters.

Movie Theaters

Kinowelt, which also makes its own movies and has its own movie theaters, has
been expanding just as aggressively.

Time Warner Inc., the world`s largest media company, agreed last week to license
TV rights to 245 films and more than 600 TV shows to Kinowelt for about $300
million. The purchase, which includes rights to such movies as ``The Matrix`` and
shows like ``The West Wing``, will almost double sales this year to 400 million marks
from 210.5 million last year, Kinowelt said.

To expand into North America, the company plans to buy a 24.9 percent stake in
Alliance Atlantis Communications Inc., a Canadian film company. Together they will
create a production firm in Los Angeles. Acquiring a 50 percent stake of Alliance`s
U.K.-based film distribution unit Alliance Atlantic Releasing Ltd, is also part of the
expansion plan. To boost its TV production business, Kinowelt earlier this year
bought 51 percent in DREFA Produktion und Lizenz.

Still, Kinowelt doesn`t plan to rest any time soon. Last month, it created Kinowelt
International to accelerate international expansion. At first, it seeks expansion in
Middle and Eastern Europe as demand for films in those regions is growing. Kinowelt
will form ventures and buy stakes in local companies. The key markets are Hungary,
Poland and the Czech Republic.

Kinowelt International expects sales of more than 20 million marks next year and
forecast growth rates of about 20 percent in the following five years. ``Kinowelt is
developing into a global player,`` said Eduard Unzeitig, the company`s chief financial
officer.

The company has a 11.4 percent market share in film distribution, making it
Germany`s No.4. Its success is partly linked to box-office hits such as ``Rush Hour``,
``Celebrity`` and ``Mr. Nice Guy``. In the first half, the company`s overall sales rose
105 percent to 178.3 million marks.

Pay-TV

EM.TV`s shares have soared as high as 64 euros from an initial offering price of 34
deutsche marks ($18.6 or 17.4 euros) in November 1997. They closed at 55.9 euros
yesterday. Kinowelt, which sold its shares for 55 marks or 28 euros closed at 83
euros. Both companies split their shares to increase liquidity.

In the future, EM.TV and Kinowelt are also likely to benefit from the explosion of
Germany`s pay-television market following Kirch Group`s purchase of CLT-Ufa`s 45
percent stake in Premiere. Now Kirch holds 95 percent in the pay-TV channel.
``Content is king,`` said Christoph Benner, an analyst at Deutsche Bank AG.
``Investors are optimistic content providers will get a boost when pay-TV takes off.``

The accord between Kirch and CLT-Ufa earlier this year ended months of speculation
about Premiere`s future after Germany blocked an earlier bid by the two companies
each to take a 50 percent stake on antitrust concern.

Although Germany is Europe`s largest TV market, the development of its pay-TV
market has lagged that of other European countries, partly because of the battle
between the two companies. EM.TV and Kinowelt are now set to provide the content
to help spur the market`s growth.

Gruß Lilienthal

[EM10000]

No comments ???

Hört sich doch wesentlich besser an als
das gehässige Gelaaber von Berni !

[lilienthal]

Ich bleibe dabei,
EM-TV bis März 2000 bei 100 Euro
Gruß Lilienthal

[EM10000]

Hallo Lilienthal

Dein KZ 100 bis März 00 halte ich auch
für erreichbar, wäre aber fast zu schön
um wahr zu sein.

100 (KZ) minus 55.81 (XETRA) würde einem Gewinn von EURO 44.19 pro Aktie
entsprechen !

Da müssten noch einige Ad hocs heraus-
kommen.

Gruss EM10000

[lilienthal]

Hallo EM10000
die Ad-hocs garantiert die Geschäftstüchtigkeit der Haffas. In drei Jahren bewegt EM-TV etliche Mrd Umsatz. Und dass bei 40 % Netto-Umsatzrendite.
Der Kurs hat noch satt Luft nach oben, glaube mir und vertraue den Haffas.
Gruß Lilienthal

[1_Iron]

Der wird bestimmt in nährer zukunft eine grossere ad-hoc oder news vom EM.TV kommen. Die haben auch nie eine "Fluff" meldung los gelassen.

Warten und staunen.