Boomerang Media Buys Entertainment Rights

Entertainment Rights, along with its subsidiaries, Big Idea and Classic Media, have been acquired by Boomerang Media in partnership with U.S. private equity firm GTCR.

Boomerang Media and GTCR expect to invest up to $200 million in equity capital to support Entertainment Right's properties, which include Casper the Friendly Ghost, Postman Pat, The Lone Ranger, Where's Waldo, VeggieTales, Lassie and others. Entertainment Rights applied for suspension of shares and cancellation of its listing on the London Stock Exchange April 1. The delisting is expected to take place April 2.

Boomerang Media is led by Eric Ellenbogen and John Engelman, founders of Classic Media, which was acquired by Entertainment Rights in 2007. Ellenbogen was president and chief executive officer of Marvel Entertainment from 1998 to 1999.

"We're happy to be back again with our friends and former colleagues at Classic Media, Big Idea ("VeggieTales") and now Entertainment Rights," says Ellenbogen. "With the support of GTCR we have the opportunity to build upon what we started here nine years ago."

"We are pleased to help Boomerang acquire a terrific worldwide platform for exploiting media content," says Eric Sondag, GTCR vice president. "We continue to see a number of intriguing investments in this area, and our partnership with Eric and John, an exceptionally talented and proven management team, puts us in a position to pursue attractive opportunities such as this one."

This week at MipTV in Cannes, Entertainment Rights is premiering new series, such as "Tinga Tinga Tales, "Guess with Jess," "Casper's Scare School," as well as animated film feature Kung Fu Magoo.