TV Loonland mulls Metrodome sale

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MUNICH -- Following the resignation of two members of its three-man supervisory board, troubled independent children's TV specialist TV Loonland AG is exploring the sale of its 61% stake in British rights dealer and distributor Metrodome, the company said in a statement Tuesday.

A Loonland spokesman said "several" parties were interested in making an offer for Metrodome. He would not estimate how much Metrodome might bring to Loonland or when the sale might be complete.

The spokesman also said that the company's creditor banks have decided not to take action against Loonland despite violations of certain clauses in its credit agreements.

The statement also warned shareholders of a further delay in the release of the company's 2006 figures.

TV Loonland's share price tanked soon after the statement was released, dropping from €0.72 ($0.96) to €0.55 ($0.73) per share by late afternoon, the lowest point since the company's IPO in 2000.
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