Boomerang Media Buys Big Idea
Big Idea, home to popular faith-based kids brand VeggieTales®, has been acquired by Boomerang Media, LLC, a company led by founders Eric Ellenbogen and John Engelman in partnership with GTCR, one of the leading private equity firms in the U.S. Late last week, Boomerang announced the acquisition of the principal UK and U.S. trading subsidiaries of Entertainment Rights, including Big Idea, Inc. and Classic Media, Inc.
Boomerang Media was formed to acquire and manage intellectual property across all media. In partnership with GTCR, the company plans to invest up to $200 million to build its franchises, with VeggieTales as a key brand in its global portfolio.
“The leadership of Boomerang Media has an exceptional track record in the entertainment world,” say Leslie Ferrell, GM, Big Idea. “They have a thorough understanding of the faith-based market and vision for Big Idea’s mission to impact the spiritual fabric of society through creative media.”
Eric Ellenbogen of Boomerang Media said, “Big Idea has established itself as a leader in the Christian marketplace. We will continue to support their mission, the long-lasting relationships they have built with their audience, and their efforts to introduce new generations of families to VeggieTales.”
Big Idea’s latest DVD release, Abe and the Amazing Promise, is currently one of the best-selling videos at Christian retail, while the new VeggieTales: Here I Am To Worship CD, just released to critical acclaim and features Dove Award-winning recording artists Natalie Grant and Aaron Shust as special guests. Additionally, An Easter Carol, which has sold more than one million copies to date, has returned to DVD and will make its world television premiere on Gospel Music Channel Easter weekend. Other DVD releases planned for 2009 include VeggieTales: Heroes of the Bible this May, the release of Minnesota Cuke and the Search for Noah’s Umbrella slated for August, and the legendary story of Saint Nicholas coming in October.