In an eponymous move, Boomerang Media and private equity firm GTCR have acquired Entertainment Rights, Classic Media, and Big Idea, Inc. from their troubled parent, which was in deep difficulty due to the debt it took on to acquire Classic Media (see “Casper, Gumby Parent Scrambling”). The company controls a number of classic brands, including
Boomerang is the new investment vehicle formed by GCTR with Eric Ellenbogen and John Engelman after they sold Classic to Entertainment Rights (see “$200 Million for New Content Company”).
Ellenbogen and Engelman ran Classic from 2000 to 2007, and previously ran Broadway Video Entertainment. Ellenbogen also had a stint as CEO of Marvel.