Lions Gate on course to buy Hit Entertainment

LIONS Gate Entertainment, whose films include Fahrenheit 9/11 and Monster’s Ball, is on course to swoop for Hit Entertainment, a British children’s television company that last month agreed to a $921 million (€703 million) takeover by venture capital firm Apax Partners.

Lions Gate requested access to Hit’s financial records, the Canadian company said yesterday. Hit, whose characters include Bob the Builder and Thomas the Tank Engine, has received two approaches since it agreed to be bought by Apax and is now “investigating” the proposals.

“Hit has got tremendous potential,” said Theresa Wise, a media analyst at Accenture in London. “A trade buyer has a bigger stable of rights and has access to (distribution) channels sorted out.’