Private equity firm GCTR has announced that it will provide up to $200 million to finance Boomerang Media, a new company formed to acquire, manage, and exploit entertainment intellectual property. Boomerang Media will be run by Eric Ellenbogen and John Engelman, who previously ran Classic Media and Broadway Video Entertainment. Ellenbogen also had a stint as CEO of Marvel.
According to the announcement, management's strategy is to build the company 'into a leading franchise for iconic, branded entertainment assets.'
GTCR will provide the financing from its GTCR Fund IX, LP, which has $2.75 billion of committed capital.
