Boomerang Acquires Subsidiaries From Entertainment Rights

Boomerang Media has acquired three major subsidiaries of Entertainment Rights that control such popular properties as Casper the Friendly Ghost, Where’s Waldo? and Veggie Tales.

Boomerang, in conjunction with private equity group GCTR, plans to invest $200 million in building up the franchises held by the subsidiaries, which are Entertainment Rights, Classic Media and Big Idea.

Boomerang is lead by Eric Ellenbogen and John Engelmen, who founded Classic Media and sold it to Entertainment Rights in 2007.