EM.TV Hires Bank to Find Jim Henson Buyer

EM.TV & Merchandising hired Allen & Co., a U.S. investment bank that specializes in media transactions, to help it find a buyer for Jim Henson Co., the creator of Kermit the Frog, Miss Piggy and Fozzie Bear.

EM.TV, which bought Jim Henson a year ago for $680 million, hired the New York-based bank Wednesday, said spokeswoman Marion Moormann. EM.TV plans to hold on to the European merchandising rights of the Muppets as it tries to turn around the business.

EM.TV may sell to Jim Henson’s management or find an outside partner, Moormann said. Potential buyers include Walt Disney Co. and Viacom Inc., analysts have said. Buyout funds including Hicks Muse Tate & Furst Inc. also may be interested.