Case 28: EM.TV (Germany, 2000)

• Prof. Dr. Klaus Henselmann
• Dr. Stefan Hofmann

“Entertainment Munich TV” (commonly referred to as “EM.TV”) was founded in 1989 by Thomas Haffa and his younger brother Florian, based on a small offering of children’s programming. The company quickly gained international clout after purchasing the rights to productions such as the Muppet Show, Sesame Street and Formula One car racing. Up to the year 2000, the Haffa brothers were high-flying symbols of Germany’s flourishing new economy. The pair was eagerly photographed by business and celebrity magazines. However, they were fast becoming a cautionary tale for new-economy hubris. In 2001, they were charged with defrauding shareholders. The extent of their fall became apparent in their trial, where the once-celebrated men were booed by the courtroom observers.

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