Things are heating up again in German media group EM.TV's auction of family entertainment powerhouse Jim Henson Co.
Disney is considered the most likely Henson buyer at the right price. But it's believed that investment firm Allen & Co. has netted one or more other studios as Henson suitors, with due diligence under way by several prospective buyers.
Portions of the onetime Henson empire have been sold off, most notably the rights to several Sesame Street characters. But remaining assets are believed to be worth north of $200 million to the EM.TV media group.
In a development that's restoked interest among price-sensitive suitors, Allen recently quantified certain lucrative tax savings to any U.S.-based buyer, according to one industry source. It's believed the tax angle was pitched to various prospective buyers in December, when a pre-Christmas bidding deadline was extended to mid-January.
EM.TV still may see a management-led offer for the Los Angeles-based company. But it's considered unlikely Henson topper Charlie Rivkin could put together a buyout offer competitive with those being constructed by larger suitors.
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