Mattel to sell off Hit Entertainment's smaller properties
Reports suggest Mattel is looking to divest itself of some of the smaller brands it acquired when it paid $680 million for Hit Entertainment in October last year.
The star of the Hit stable is rail behemoth Thomas the Tank Engine, said to generate almost three quarters of Hit’s revenues.
Other assets such as Barney and Angelina Ballerina, however have been earmarked for sale.
Although it is reported the properties will be reasonably priced, buyers will need to consider that Mattel could end or fail to renew the characters’ toy licensing agreements, which could diminish the brand’s revenue generating potential.
It is understood Mattel is likely to hang on to Mike the Knight, a relatively new pre-school property about a young knight in training, and has yet to decide on Bob the Builder’s fate.
This decision may be swayed by Bob’s burgeoning Stateside popularity, where Bob's catchphrase “Can we fix it? Yes we can!” was appropriated for President Obama’s election campaign.
