Rights employed 95 people. In the 2005 financial year, Entertainment Rights' revenue was £12.4 million. The company bid for Chorion but the offer was rejected. In 2005, Siriol Productions came under new management. The company was renamed "Calon". Most of the rights to completed productions were kept by Entertainment Rights. In October 2005, the company expanded their Barbie licensed deal with Mattel to include three more movies. It was further extended again in September 2006. Purchase of Classic Media and Losses (2007-2009) On 14 December 2006, Entertainment Rights announced that they would purchase the US-based licensing company Classic Media for (£106.9 million). The deal would bring Classic Media's own IPs, including the Bullwinkle Studios joint-venture with Jay Ward Productions (Rocky & Bullwinkle, George of the Jungle), the Harvey Comics library (Casper the Friendly Ghost), Lassie, the pre-1974 Rankin/Bass Productions library (including Rudolph the Red-Nosed Reindeer and Frosty the Snowman) and Big Idea Productions' (VeggieTales) to the Entertainment Rights portfolio. The deal also included a stake in the joint-venture children's block/network Qubo (closed 14 years later). The deal was closed on 11 January 2007 and Classic Media became a wholly-owned subsidiary. Before the deal was completed, both companies announced North American home video distribution and production agreements with Genius Products. On January 22, 2007, the company purchased the Where's Wally? franchise. In December 2008, the company appointed Deborah Dugan, former president of Disney Publishing Worldwide, as its CEO in North America. There had been financial instability within the company. By January 2009, the company had dismissed one third of its employees. The company's market value decreased from £267 million in March 2007 to £5.5 million. By February 2009, six companies had requested to purchase Entertainment Rights. Also in February 2009, Entertainment Rights was fined £245,000 by the Financial Services Authority for failing to inform shareholders of "a potential $14 million earnings hit in a timely manner". Adminstration, new ownership and Later History (2009) On 1 April 2009, Entertainment Rights went into voluntary administration. On the same day, Boomerang Media announced it had acquired all of Entertainment Rights' subsidiaries including Entertainment Rights itself, Big Idea and Classic Media. On 11 May 2009, Boomerang Media announced that the former British and US subsidiaries of Entertainment Rights would operate as a unified business under the name "Classic Media", while Big Idea would operate under its own name. Boomerang Media was created by former owners