Buzz Builds About HIT Entertainment Sale

Word that British/American HIT Entertainment may be up for sale has spread across the pond, along with reports that the company has been valued at approximately (U.S.) $1.5 million. According to Kidscreen, Apax—the current owner of HIT Entertainment—is planning to announce its appointment of an investment bank to handle the sale sometime this week.

Disney, Hasbro, Mattel and Viacom are said to be circling the entertainment company, likely driven by an interest in acquiring HIT’s marquee property and successful boy brand, Thomas the Tank Engine, which has seen merchandise sales spike 50 percent in 2010 thanks to a licensed toy line from Mattel’s Fisher-Price and a surge in popularity in the Asian market. Visit www.hitentertainment.com.