Update to Shareholders


 

TIDMERT 
 
RNS Number : 9018N 
Entertainment Rights PLC 
26 February 2009 
 

26 February 2009 
 
Entertainment Rights Plc 
("Entertainment Rights", or the "Group" or the "Company") 
 
 
Update to Shareholders 
Following the announcement of 29 December 2008, the Board has been vigorously 
exploring the options available to stabilise the business and secure its long 
term future. The Board has now completed this process and, together with 
Entertainment Rights' lender, is committed to a sale of the Company's business. 
 
 
The Board has received offers for the Company's subsidiaries or business and 
assets and is in advanced negotiations with a number of bidders who have 
substantially completed their due diligence in order to complete a transaction 
imminently. 
 
 
The offers received are at a level which would be acceptable to the Board and to 
the Group's lender, but at which there is no prospect of recovering all of the 
outstanding debt. It is now clear that neither a sale nor the alternative of a 
bank supported restructuring solution would result in any value being attributed 
to the ordinary shares in Entertainment Rights Plc. No offer has been received 
for the Company's ordinary shares and the Company is not in discussions with any 
party regarding an offer for the Company's ordinary shares, accordingly the 
Company is no longer in an offer period. 
 
 
The Group's lender has indicated that it intends to continue to support 
Entertainment Rights beyond 28 February 2009 to complete a sale or restructuring 
solution. Accordingly, the Board is pleased to announce the extension of further 
short term funding to the Group to enable it to complete this process. 
 
 
Enquiries: 
Ben Simons or Charlotte Kirkham 
M: Communications 
 
 
Tel. 020 7153 1540 
 
 
About Entertainment Rights 
 
 
Entertainment Rights Plc (ER) is a global entertainment media company, with a 
portfolio that includes some of the world's most popular children's, family and 
pop-culture brands.  With offices in London, New York and Nashville, the Company 
specialises in the origination, acquisition and distribution of children's and 
family programming, characters and brands.  The Company's catalogue appeals to a 
broad demographic from pre-school children to young adults and families.  The ER 
catalogue consists of more than 3,600 hours of content that has been distributed 
in more than 170 territories worldwide.  ER's expertise is in the exploitation 
of its catalogue of brands and content in a number of key disciplines, including 
television and theatrical distribution, product licensing and merchandising, 
live and home entertainment, and digital media. 
 
 
Key brands in ER's global portfolio include Postman Pat , Where's Waldo?(TM), 
Tinga Tinga Tales(TM), VeggieTales , Rupert Bear , George Of The Jungle(TM), 
Lassie , Casper The Friendly Ghost , Basil Brush , Finley The Fire Engine(TM), 
The Lone Ranger , He-Man  and the Masters of the Universe , She-Ra(TM) and 
Rudolph the Red-Nosed Reindeer . 
 
 
Visit www.entertainmentrights.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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