Entertainment Rights 'in talks'

<p>Entertainment Rights, the company behind children&#39;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.<br /><br />The statement read: &quot;The board of ER notes the recent press speculation and the movement in the company&#39;s share price and confirms it is in preliminary talks which may or may not lead to an offer being made for the company.&quot;<br /><br />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. &quot;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,&quot; the company stated.<br /><br />According to press reports, a number of private equity groups are believed to have approached the company, which is currently valued at around &pound;60m.<br /></p>