German Media conglom EM.TV & Merchandising has sold its interests in pay-TV kids channels The Odyssey Channel and The Kermit Channel to U.S. media company Crown Media Holdings in exchange for a stake in CMH. EM.TV swapped its 22.6% stake in Odyssey, a kids channel operating in the U.S., and its 50% stake in Kermit, which serves the Asian market, for 8.2% (5.4 million shares) ownership in CMH. As per the deal (valued at US$91.8 million), EM.TV will also develop a branded block of family programming that will begin airing daily on Odyssey soon. According to EM.TV spokesperson Marion Moorman, the deal is a crucial step to getting exposure for the company’s programs and brands in the U.S. and other territories where Crown operates channels. Though the content for the as-yet-unnamed block is still being negotiated, the lineup will be culled from EM.TV’s library of animated kids fare, which includes Junior-branded shows such as Pippi Longstocking and Tabaluga, as well as library shows from The Jim Henson Company, which EM.TV purchased earlier this year. Crown, which also owns the Hallmark Entertainment Network, becomes the sole owner of both Kermit and Odyssey, which currently reaches 27 million households in the U.S. SA