Entertainment: Muppets on the block
Kermit and Miss Piggy are set to wake up with a new boss in a few days, with the German owners of the Muppet Show reportedly close to a deal to sell all rights to the lovable figures to US based entrepreneur Haim Saban. EM.TV of Germany has been hunting for a buyer for months for the Hollywood-based unit. Werner Klatten, the EM.TV chief executive, said on Germany's Spiegel Online Web site Tuesday the negotiations were going "at full pace." The site said Saban was the other party. Earlier, the Financial Times Deutschland reported a bid of 65 million euros (US$62 million) cash. Direct confirmation was not available.
Logistics: DHL buys Cathay stake
DHL Worldwide Express Inc has agreed to purchase a 30 percent stake in Cathay Pacific Airways' cargo unit Air Hong Kong Ltd as part of a plan to build a shared regional freighter fleet, the companies announced yesterday. The deal is a step toward turning Hong Kong's Chek Lap Kok airport into a regional cargo hub. DHL plans to build a new US$100 million express cargo terminal there. Together, DHL and Cathay Pacific will invest US$300 million in the Air Hong Kong joint venture, the companies told reporters.
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