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HIT Prepared for Sale?

HIT Entertainment is reportedly being prepared for sale, either as a whole or in parts, with the obvious target for a separate sale being Thomas and Friends, its most valuable asset.According to published reports, Apax Partners, the private equity firm wh

HIT Entertainment is reportedly being prepared for sale, either as a whole or in parts, with the obvious target for a separate sale being Thomas and Friends, its most valuable asset.

According to published reports, Apax Partners, the private equity firm which owns the company, has started the process to sell all or part of HIT, calling in the banks, with a sale unlikely to be this year, but possibly in early 2011. Apax is still dealing with huge debts after its acquisition of HIT Entertainment in 2005 in a deal worth about £489 million ($761 million). Potential buyers for HIT include Disney and FremantleMedia.

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