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01 Apr 2009
The brandholder for Postman Pat, Rupert Bear and He-Man has sold its trading subsidiaries through a pre-pack administration.
Nick Edwards and Carlton Siddle of Deloitte were appointed joint administrators to Entertainment Rights, and its subsidiaries were immediately sold onto Boomerang Media, a company backed by Chicago-based private equity group GTCR and managed by Eric Ellenbogen and John Engelman.
Entertainment Rights has offices in London, New York and Nashville, employing approximately 90 employees across the UK and US, who will transfer to the new company.
'The sale to Boomerang Media secures the ongoing activities of the group’s trading subsidiaries, allowing the former businesses of Entertainment Rights to survive under new ownership,' said Edwards.
'The new owners have indicated their intention to invest in the business to further develop its strong portfolio of intellectual property.'
Further reading:
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