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Hit to Buy Gullane?

11 Jul, 2002 By: Hive News

British children's studio Hit Entertainment PLC may buy Gullane Entertainment PLC, a combination that would create one of the biggest children's studios, according to the Dow Jones Newswire.

The Gullane board July 5 recommended that it accept HIT's two-thirds cash, one-third shares offer valued at about $215.1 million, the report said. Hit owns Bob the Builder, Barney the dinosaur and Pingu the penguin.

Gullane's properties include Thomas the Tank Engine and Captain Pugwash. The offer marks Hit's third attempt to purchase Gullane, which is also based in the UK.

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