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HIT Entertainment Agrees to Buyout

by on March 23, 2005

Thomas the Tank Engine-producer HIT Entertainment will be purchased by venture capital firm Apax Partners in a $934 million deal, according to AWN. Talpa Media, HIT’s second-largest shareholder, is reportedly supporting the deal but also seeking an agreement that would give it distribution rights to HIT brands in the Benelux countries.

HIT recently reported a slide in both profits and earnings and fired its CEO.

[Additional source: World Screen News]

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