Digest: Marvel park in Dubai
EmptyMarvel Entertainment's super heroes will be featured in a cutting-edge Dubai theme park set to open in 2011. Marvel and United Arab Emirate-based Al Ahli Group unveiled a partnership for the park, which boasts $1 billion in direct investments, on Tuesday. The deal brings Marvel's full library of characters, including Spider-Man, Iron Man, the X-Men, Incredible Hulk, the Fantastic Four and Silver Surfer, to the park, which is part of Dubai's focus on expanding in the entertainment and hospitality sectors. AAG and Marvel said they also are in talks about potential additional projects in the greater Pan Arabia region.
Liberty Media Corp. has amended a recent tender offer for its own stock, saying Tuesday it now will solely buy Series A and no Series B common stock. The terms of the buyback are unchanged. Liberty will acquire up to nearly 8.9 million shares at prices between $105-$113 each.
COLOGNE, Germany -- Shares of German kid video firm TVLoonland dropped more than 35% on Tuesday after the company said it had booked a loss equal to more than half of its issued capital. The announcement comes after months of mostly positive news from the Munich-based producer-licenser, which switched management last year after a shareholder's revolt. Releasing the company's fiscal second-quarter figures, CEO Simon Flamank said Loonland had "turned a corner" by trimming losses and boosting revenue by 46% (HR 8/18). Loonland was playing its cards close to its chest Tuesday, only revealing that the massive loss was "determined" as management prepared its annual accounts for 2006. No reasons for the loss were given. According to its latest published figures, issued capital at TV Loonland totals €9.9 million ($13 million), which would put the company's loss for 2006 at close to €5 million. That likely is to top Loonland's revenue for the year. Loonland will give a more detailed account of its finances at its annual shareholder meeting June 12.