HIT Entertainment: Difference between revisions

HIT Entertainment Limited
Industry	Media, Television Production and Distribution
Founded	1989
Founder	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	Mattel
Number of employees	188+
Website	www.hitentertainment.com

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Revision as of 00:09, 20 January 2013

HIT Entertainment (styled "HiT") is a British/American entertainment distribution company owned by a toy company Mattel 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 had 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.

The sale of HIT Entertainment to Mattel was completed in October 2011 for $680 million.^[1] PBS Kids Sprout, a US cable network HIT co-owns with NBCUniversal, PBS, and Sesame Workshop, was not included in the deal, and that stake was retained by Apax. The sale/merger was completed on February 1, 2012, and HIT Entertainment became a wholly owned subsidiary of Mattel, managed under its Fisher-Price unit.

HIT's catalogue

HIT's catalogue of characters include Kipper the Dog, Angelina Ballerina, Barney & Friends, Bob the Builder, Fifi & the Flowertots, Fireman Sam, Pingu, Mike the Knight, Rainbow Magic and Thomas & Friends. Hit also owns redistribution rights to several other shows (Wishbone, et al.).

According to its web site, HIT's catalogue 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.

In 2001, HIT purchased Lyrick Studios, the owners of Barney and Wishbone, and US distributors of home videos, audio products and children's books and toys. HIT later purchased Gullane Entertainment, the owners of Thomas the Tank Engine and Friends and Magic Adventures of Mumfie, in 2003; in the process HIT became owner of the Guinness Book of Records, which was sold in 2004.

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

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.

External links

References

^ "Barbie maker Mattel to buy Thomas the Tank Engine owner". BBC News. 24 October 2011. Retrieved 25 October 2011.

[1] "Barbie maker Mattel to buy Thomas the Tank Engine owner". BBC News. 24 October 2011. Retrieved 25 October 2011.

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@@ Line 23: / Line 23: @@
 HIT's catalogue of characters include  ''[[Kipper the Dog]]'', ''[[Angelina Ballerina]]'', ''[[Barney & Friends]]'', ''[[Bob the Builder]]'', ''[[Fifi & the Flowertots]]'', ''[[Fireman Sam]]'', ''[[Pingu]]'', ''[[Mike the Knight]]'', ''[[Rainbow Magic]]'' and ''[[Thomas the Tank Engine and Friends|Thomas & Friends]]''. Hit also owns redistribution rights to several other shows (''[[Wishbone (TV series)|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&nbsp;minutes of new programming a year.
+According to its web site, HIT's catalogue 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&nbsp;minutes of new programming a year.
 In 2001, HIT purchased [[Lyrick Studios]], the owners of ''[[Barney & Friends|Barney]]'' and ''[[Wishbone (TV series)|Wishbone]]'', and US distributors of home videos, audio products and children's books and toys. HIT later purchased [[Gullane Entertainment]], the owners of ''[[Thomas the Tank Engine and Friends]]'' and ''[[Magic Adventures of Mumfie]]'', in 2003; in the process HIT became owner of the [[Guinness World Records|Guinness Book of Records]], which was sold in 2004.