HIT Buys Worldwide Magic. Plans TV, Toy Roll-out

For most parents of a three year old, HIT Entertainment basically rocks. HIT allows parents to assuage their guilt at planting their child in front of the TV for a twenty minute respite knowing that HIT properties Kipper, Barney, Thomas, the Wiggles et. al. can entertain/transfix while actually respecting the collective intelligence of the under five set. No fear of ADD underwater sponges, bizarre-looking families or rude animals here.

Expanding its portfolio, London-based HIT announced this morning that it has acquired worldwide rights from Working Partners to the popular girls’ publishing property Rainbow Magic. Introduced in the UK in 2003 and aimed at girls 5 to 9-years-old, Rainbow is a collection of more than 60 books that follow the adventures of Kirsty and Rachel and their interactions with different groups of fairies and other creatures in Fairyland. To date, Rainbow has sold more than 10 million volumes worldwide.

HIT is planning a TV series, a line of consumer products and more books. “The property’s wholesome, magical and creative vision captures a child’s imagination and perfectly complements our existing portfolio,” says Bruce Steinberg, CEO of HIT Entertainment. HIT says it plans to work closely with the creators of Rainbow, Working Partners and publishers in each territory to develop new content for the property.

HIT, owned by a private equity investment group since 2005, sells its shows and DVDs in 250 countries worldwide in more than 40 different languages. To this point, HIT has managed to create a tightly focused brand that parents associate with entertainment that is educational without being pedantic and, most importantly, fun.