Entertainment Rights Plc builds its International cast of characters with Us$305 million acquisition of Classic Media
11 January 2007
LG, the London-based business law firm, has advised Entertainment Rights plc ("Entertainment Rights") on its US$305 million acquisition of Classic Media Holdings, Inc. ("Classic Media"), the US-based owner of an extensive portfolio of children's and family characters and brands (including ‘Lassie’ and ‘The Lone Ranger’), as well as on Entertainment Rights’ £71m Placing and Open Offer and new £138 million loan facilities with Bank of Scotland.
Entertainment Rights is a leading UK independent media group specialising in the ownership of children's and family programming, characters and brands including ‘Postman Pat’ and ‘Basil Brush’.
Jeffrey Elway, corporate partner, led the LG team advising Entertainment Rights, who have previously advised the company on a series of transactions including its 2004 acquisition of Tell-Tale Productions Limited, the creator and producer of the BBC's £350m global brand, ‘The Tweenies’ and more recently its purchase of the controlling rights of iconic children's character ‘Rupert the Bear’ from Express Newspapers.
Jeffrey commented: "The acquisition of Classic Media is hugely significant for Entertainment Rights, effectively doubling the Group's size and transforming the business. We are delighted to have worked again with Entertainment Rights as it achieves its international growth objectives."
The LG team advising on the deal included corporate solicitors, Oliver Riley and Selina Conboy, and Meera Jansen, Xanthe Lok and Megan Evans on the banking aspects.
Sidley Austin provided US advice to Entertainment Rights. Classic Media and the Sellers were advised by Akin Gump Strauss Hauer & Feld in the US with Latham & Watkins in London advising on UK aspects of the deal. Mayer Brown Rowe & Maw in London acted for the sponsor and joint underwriters of the Placing and Open Offer (Altium Capital Limited and Collins Stewart Europe Limited).
Completion on Admission of the new shares to listing took place today (11 January 2007).
Notes to editors
- LG is a London-based business law firm with over 270 lawyers.
- LG advises entrepreneurial and growth market clients seeking to raise capital for their business ventures.
- Lawrence Graham advises entrepreneurial and growth market clients seeking to raise capital for their business ventures.
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Jeffrey Elway
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