Perhaps its name was never more appropriate, as New York-based Boomerang Media, the firm that sold Classic Media to Entertainment Rights a few years back, has acquired the troubled kids IP and brand management company’s core businesses.
With the appointment of joint administrators, ER’s shares have been suspended and it is in the process of being delisted on the London Stock exchange. The company’s subsidiaries in the UK and US are operating as normal, as the former ER will continue under its new ownership. Boomerang has indicated its intention to invest in the new business and develop ER’s portfolio of IP. The sales price was not divulged.