Entertainment Rights' principle UK and US trading subsidiaries - ER, Big Idea and Classic Media - have been acquired by Boomerang Media.
The company is led by Eric Ellenbogen and John Engelman, in partnership with GTCR, one of the leading private equity firms in the US. ER purchased Classic Media from the duo back in 2007.
"John and Eric have exceptional track records in entertainment, not to mention a history with most of the company's leading brands," stated 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."
Boomerang Media's Ellenbogen added: "We're happy to be back again with our friends and former colleagues at Classic Media, Big Idea (Veggie Tales) and now Entertainment Rights. With the support of GTCR we have the opportunity to build upon what we started here nine years ago."
Boomerang Media was formed to acquire and manage IP across all media. The acquisition of the principal UK and US trading subsidiaries of ER is the first major transaction for the group.
Together with GTCR, Boomerang is planning to invest up to $200 million in equity capital to build leading franchises for iconic, branded entertainment.
"We are pleased to help Boomerang acquire a terrific worldwide platform for exploiting media content," said GTCR VP, Eric Sondag. "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."