Muppets up for sale

The Muppets are up for sale this weekend as the Jim Henson Company goes on auction, Variety reported.

Kermit The Frog and friends are expected to raise €197.5m for EM.TV, the troubled German media group that currently owns the company.

EM.TV originally pushed for a sale in March last year, but failed because the€281.5m asking price was too high.

Kermit and Miss Piggy first hit screens in 1976. The popular puppet show ran until 1981, and was followed by a number of films and spin-off series.

It attracted guest stars ranging from Elton John to Diana Ross and Pierce Brosnan.

Possible buyers for the Los Angeles-based company are thought to include Walt Disney, Viacom and AOL Time Warner, Variety said.

At least a couple of smaller, European-based companies may also make bids.