BusinessBusiness RecoveryPostman Pat owner sold through pre-pack

Postman Pat owner sold through pre-pack

Entertainment Rights subsidiaries sold through a pre-pack by joint administrators from Deloitte

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:

Southampton FC owner’s shares
suspended over survival battle

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