HIT Entertainment: Difference between revisions

Hit Entertainment Limited
Company type	Private ownership,; Limited liability company
Industry	Media, Television Production & Distribution
Founded	1989
Headquarters	London, United Kingdom; New York City, United States
Products	Children's Animation, Production
Total assets	$1,119 mil
Owner	Apax Partners
Number of employees	188+
Website	http://www.hitentertainment.com/

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Revision as of 13:14, 20 May 2011

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.

Hit's catalogue

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, and Hit Wildlife, the company's natural history arm.

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

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 & Friends film scheduled for release in 2012.

List of shows

Anything produced by Britt Allcroft (Thomas and Friends, Captain Pugwash, James the Cat)
The work of Grand Slamm (Angelina Ballerina, Kipper the Dog, Percy the Park Keeper)
The catalogue of Lyrick Studios and Subsidiary Big Feats! Entertainment (Barney & Friends, Wishbone)
The work of Bumper Films excluding Star Hill Ponies which is owned by the Moonscoop Group (Fireman Sam)
The Rainbow Magic book series
Wobbly Land
The work of Keith Chapman (Bob the Builder, Fifi and the Flowertots, Roary the Racing Car)
Pingu
Distribution rights to Shaun the Sheep, Fraggle Rock and Timmy Time

External links

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 '''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 (about $780 million) on 26 May 2005.
+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.