Over 20 companies are interested in acquiring the assets of insolvent German and UK-based cartoon house BKN. Commerzbank, the investment bank handling the sale, told TBIvision that TV companies and potential financial investors from Europe, Asia and North America have approached it to express an interest.
The bank is preparing the relevant documents and will officially start the sales process in about three weeks, Harald Lohr, senior M&A executive at Commerzbank said. It is still not totally clear which BKN shows will be cleared for sale, but the company’s series include Zorro – Generation Z and Dork Hunters from Outer Space.
Commerzbank declined to estimate how much could be raised from the sale, but should the above-mentioned and other top-line BKN shows be rights cleared and available to potential buyers the process is expected to generate double-digit millions of Euros.
BKN International filed for insolvency in mid-2009, following which administrators decided to sell its assets. It has a 1,000-hour catalogue of kids shows.