Apax Seeks Buyers for HIT

LONDON: Disney, Viacom, Mattel and Hasbro are said to be among the potential bidders for HIT Entertainment, with Apax Partners close to appointing a bank to manage the sale process.

According to the U.K.’s Telegraph, Apax has shortlisted UBS and Bank of America Merrill Lynch as it seeks out a bank to manage the auction. Reports indicate that Apax is hoping for bids as high as $1.5 billion for group, which owns more than 1,500 hours of programming, including the preschool classics Thomas the Tank Engine, Barney and Fireman Sam, and a stake in the U.S. kids’ network PBS Kids Sprout.

Apax has owned the kids’ firm since 2005.