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Entertainment Rights 'in talks'

22.01.08

Entertainment Rights, the company behind children's characters Postman Pat and Basil Brush, has confirmed it is in preliminary takeover talks. In a statement to the City, the company said it had entered discussions about its future ownership, following weekend press reports.

The statement read: "The board of ER notes the recent press speculation and the movement in the company's share price and confirms it is in preliminary talks which may or may not lead to an offer being made for the company."

Shares in the rights company have fallen by a quarter since Friday last week after a trading update revealed lower than expected revenues in 2007. It share price has fallen from a high of 35p over the past year. "There can be no certainty that an offer will be made for the company or the terms on which such an offer may be made," the company stated.

According to press reports, a number of private equity groups are believed to have approached the company, which is currently valued at around £60m.

children's Entertainment Rights character licensing

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