Munich-based TV-Loonland inked an agreement with its bankers in a debt-to-equity deal. The deal reduces the 20 million euro debt to 6 million euros in return for a capital increase of 2 million euros and a 10 percent shareholding in the business. This will follow a second capital increase as a debt-for-equity swap. TV-Loonland said that it would publish accounts for the financial year 2006 and for the first and second quarters of 2007 shortly.
Meanwhile, TV-Loonland’s preschool property “Little Princess,” produced by The Illuminated Film Company, will premiere on Five’s Milkshake! Block in September.