BARNEY GOES BRITISH
London-based Hit Entertainment will plunk down $275 million in cash and stock to acquire Richardson, TX-based Lyrick Studios, the outfit behind the successful Barney & Friends franchise. A production company in the same vein as Lyrick, Hit distributed the Barney television show in England during the mid-1990s. The company will use Barney as a springboard into U.S. retail channels for its own kids properties, which include Bob the Builder, Kipper, and Angelina Ballerina. Lyrick has strong ties with such major chains as Wal-Mart and Kmart. The Lyrick’s book publishing business was sold to New York City-based children’s publisher Scholastic, Inc.
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