Boomerang Media Acquires Entertainment Rights, Subsidiaries2 Apr, 2009 By: Billy Gil
Boomerang Media has acquired Entertainment Rights and its principal U.K. and U.S. trading subsidiaries, Big Idea and Classic Media.
Boomerang Media is led by Eric Ellenbogen and John Engelman in partnership with private equity firm GTCR. Entertainment Rights acquired Classic Media from Ellenbogen and Engelman in 2007.
Boomerang Media plans to acquire and manage intellectual property across all media, and this is the first major transaction for the group, which, along with GTCR, plans to invest up to $200 million in equity capital to build franchises.
“John and Eric have exceptional track records in entertainment, not to mention a history with most of the company’s leading brands,” said Deborah Dugan, CEO and president of Entertainment Rights. “Backed by GTCR’s successful history of building industry leaders, the company is poised for its next phase of growth.”
Entertainment Rights’ franchises include “Casper the Friendly Ghost,” “The Lone Ranger,” “Where’s Waldo?,” “VeggieTales” and “Lassie.”