| Type | Private ownership, Limited liability company |
|---|---|
| Industry | Media, Television Production & Distribution |
| Founded | 1989 |
| Founder(s) | Peter Orton |
| Headquarters | London, England, United Kingdom New York City, New York, United States |
| Key people | Chairman: Greg Dyke Chief Executive Officer: Jeff Dunn |
| Products | Children's Animation, Production |
| Total assets | $1,119 mil |
| Owner(s) | Mattel (as of 2012) |
| Employees | 188+ |
| Website | http://www.hitentertainment.com/ |
Hit Entertainment (styled "HiT") is a British-American entertainment distribution company established in 1989, and originally the international distribution arm of Jim Henson Productions called Henson International Television (later reincorporated as HiT Communications plc.). However, following the death of Jim Henson in 1990, the business was sold to several members of the company's management, led by Peter Orton, and renamed Hit Entertainment to prevent any future confusion between the two companies.
The company has been owned by Apax Partners since the acquisition was closed for £489.4 million (US$890 million) on 26 May 2005.
As reported in Business Week on May 10, 2010, Apax Partners LLP’s HIT Entertainment Ltd. got an extension on a revolving credit by one year to June 1, 2012. It agreed to higher interest to complete the debt restructuring, according to Standard & Poor’s, which lifted the company’s ratings to CCC+, seven levels below investment-grade, from selective default. HIT, the owner of British children’s characters Bob the Builder and Thomas the Tank Engine, owes lenders $560 million.
In October 2011, it was announced that American toy company Mattel had concluded a deal to purchase Hit Entertainment for $680 million. [1] PBS Kids Sprout, a US cable network HIT co-owns with NBCUniversal, PBS, and Sesame Workshop, is not included in the deal, and it is not yet known what will happen to that stake.
HIT is available on-demand in the UK with BT Vision.
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Hit's catalogue of characters include Angelina Ballerina, Barney & Friends, Bob the Builder, Fifi & the Flowertots, Fireman Sam, Fraggle Rock, Pingu, Rainbow Magic and Thomas & Friends. Hit also owns redistribution rights to several other shows (Wishbone, et al.).
According to its web site, Hit's catalog comprises over 1,500 hours of children's programming in 240 countries and in over 45 different languages. Hit also claims to produce more than 900 minutes of new programming a year.
Hit purchased Gullane Entertainment (the owners of Thomas the Tank Engine and Friends and Magic Adventures of Mumfie) in 2003, in the process becoming owner of the Guinness Book of Records, which was sold in 2004, and in the same year also purchased Lyrick Studios (who were the US distributors of The Wiggles and Bob the Builder and the owners of Barney & Friends and Wishbone).
Hit appointed Lionsgate as its North American home video partner in 2008, responsible for the distribution, sales and marketing of HIT's extensive portfolio, which had been distributed since 2006 by 20th Century Fox Home Entertainment.
Hit Entertainment is a fully integrated studio, that incorporates production, worldwide distribution, UK home entertainment, publishing, licensing and merchandising.
Hit currently sells programming to over 120 countries. The chairman of HIT Entertainment is Greg Dyke, the former Director-General of the British Broadcasting Corporation (BBC) and the CEO is Jeff Dunn, formerly the Group Chief Operating Officer of Nickelodeon.
Hit Movies is a movie division created by Hit Entertainment. Industry veteran Julia Pistor is in charge of the division, as well as Hit Entertainment's CEO Jeff Dunn. Hit Movies will not be launching preschooler movies, but movies for the whole family to enjoy, such as film franchises based on Thomas & Friends and Bob the Builder, as well as new characters and stories. Hit has signed with the United Talent Agency to help create opportunities in film, television, and digital entertainment. The UTA has also helped create partnerships for Hit properties with toys, books, and live events, and has achieved success. The first film planned is a Thomas and Friends film, with a yet to be announced title, which is scheduled for release in 2014.
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