Henson & Co. on the block again

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EM.TV & Merchandising AG may sell the Jim Henson Co. just one year after its $680 million purchase of the muppet maker's company put it on the media map, Bloomberg reports.

Munich-based EM.TV's new partner, Kirch Holding GmbH, is seeking to reverse the fortunes of EM.TV, which dug itself a financial hole through $2 billion in acquisitions last year. Disney, Viacom's Nickelodeon unit and AOL Time Warner are reportedly all in the running for Henson & Co. AOL Time Warner is reportedly willing to spend $400 million for it.

EM.TV is expecting to sell Henson & Co. for less than the price it paid.

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