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Valentine to run Henson Co.

An investment group led by by former UPN president Dean Valentine and
investment company Europlay Capital Advisors plans to purchase a 49.9 percent
stake in The Jim Henson Co., creator of the Muppets, from German media
company EM.TV.

Valentine, who left UPN earlier this year, is expected to be in charge of the
company's Los Angeles-based operations.

"We are committed to continuing the legacy of creativity, humor and humanity
that marked everything Jim Henson touched," Valentine said in a prepared statement. "At
the same time, we feel there is enormous potential for growth, not merely from
Kermit and the Muppets, but from the expansion of the Henson brand into
all areas of family entertainment."

EM.TV bought The Jim Henson Co. and rights to the Muppets in February
2000 for $680 million in cash and stock, but following financial difficulties, as
well as difficulties running the company, EM.TV let the word out last year that it
would be interested in selling The Jim Henson Co.