Entertainment Rights is bid target

Saban, 3i may be among suitors

By STEVE CLARKE

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LONDON — There is speculation that Haim Saban and private equity combo 3i, owners of British rights specialist Chorion, are sizing up U.K. kids outfit Entertainment Rights.

ER, which last week issued a profit warning, has confirmed that it is in preliminary discussions involving a possible takeover.

The company, whose properties include “Postman Pat,” “Basil Brush” and “Rupert Bear,” has recently grappled with a falling stock price.

On Jan. 18, ER acknowledged that its perf for the past year was below expectations.

CEO Mike Heap said: “While it is disappointing to report a trading period that is below our expectations, the board remains confident that ER’s business model is robust.”

Reports in local media suggest that several private equity companies, including Saban Capital and 3i, have made approaches to ER in recent months.