UK/US - GTCR- backed Boomerang buys Entertainment Rights

The deal with Boomerang, which comes after Entertainment Rights went into administration, will save 90 jobs in the US and the UK. The new owners have expressed their intention to invest in the business further and develop its portfolio of intellectual property.

Entertainment Rights has suspended its shares and will cancel its stock market listing. The company explored a range of srategic options, including restucturing or refinancing of its debt, but was unable to achieve a solution.

The business acquired Classic Media in 2006 for £107m, helping accrue a £130m debt pile that eventually bankrupted the company.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Portfolio management
• UK / Ireland
• Media