Entertainment Rights, the company that owns Postman Pat, has seen its annual revenues more than double, boosted by its takeover of U.S. rival Classic Media.

The UK company enjoyed revenues of £68.1m in 2007, up 129% from £29.7m in 2006, helped by its purchase of Classic Media in January last year.
However, the results were at the lower end of original market forecasts, which the firm had warned about in January. Its annual pre-tax profits increased by just 1% to £7.9m from £7.8m in 2006.
Considerable achievements
Underlying pre-tax profit, which excludes a number of one-off factors such as a share option charge and aborted acquisition charges, rose 45% to £12.6m.
""Whilst the last six months of 2007 were challenging and the overall performance of the group was below original market expectations, this should not detract from the considerable achievements made during the year,"" said chairman Rod Bransgrove.
""The acquisition of US-based Classic Media has greatly enhanced the company's presence in the world's largest media market and the integration of Classic Media has delivered the expected synergies.""
Entertainment Rights also owns Basil Brush and Rupert Bear.
(Source: BBC)