Breaking news from TheWrap.com
Mattel announced Monday that it is shelling out $680 million in cash to acquire HIT Entertainment from a consortium led by Apax Partners funds.
Mattel, the world's largest toymaker and the force behind not just Barbie, but also American Girl and Hot Wheels, will greatly expand its portfolio of brands with the purchase.
Barney The Dinosaur maybe purple but in the end he is all about the green!HIT Entertainment has a strong presence among children with its Thomas & Friends, Barney, Bob the Builder, Fireman Sam and Angelina Ballerina brands.
Of particular interest is the success that HIT has had in launching hit television shows around its Barney and Thomas brands.