LazyTown News - Magnús signed a deal for re-buy the company

[Ana Muriel]

Re: LazyNews

Guys, look at this:

http://www.ruv.is/frett/gengid-fra-solu-a-latabae

Spanish Translator says Magnús signed a deal for re-buy the company and meanwhile Turner is the owner, Turner can't sell a part of the Company to other companies. Is it true or the Translator is wrong? What your English Translator says? Thanks :)

[Glanni's Girl]

Re: LazyNews

What does your English Translator say?

U.S. media conglomerate Turner has bought Icelandic company Lazytown. The purchase price can not be declared, but the total acquisition Turner equivalent to two and a half billion. Magnus Scheving manages the project forward and plays íþróttaálfinn.

Viðskiptablaðið announced in July that the U.S. media time Turner was invited to 1400 million for all shares in LazyTown. Debts that totaled nearly 300 million. Turner bid has been received. The purchase price can not be confirmed but the report says that the total amount of the Turner two and a half billion in this country.

The financial restructuring LazyTown had creditors, the majority Landsbanki, 60% of the shares, but Magnus Scheving and his wife held a 40% stake. Shareholders LazyTown sell new Icelandic company owned by Turner, Turner Broadcasting Systems Ireland, all the shares in the company, under an agreement re-buys Magnus Scheving the proceeds of their shares in the new company. He will continue to manage and play Lazytown íþróttaálfinn new drama series, produced in the country shortly, the capital of production has been secured through the sale of the company.

The company will remain in the hands of current management team LazyTown, Magnus, but is prohibited from selling its stake in the new company the next few years, under the terms of the purchase agreement. Turner Media Group operates television channels including CNN, TNT and Cartoon Network, and is part of Time Warner conglomerate that Ólafur Jóhann Ólafsson's manager. In addition to Turner intends to implement over the next few years is the development of a special World of Lazytown Internet and international marketing of the apparel and toy lines based on characters components.