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Fisher-Price gets rights to Thomas & Friends toys

January 5, 2009
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NEW YORK—HIT Entertainment said Monday that it has granted Fisher-Price Inc., a unit of Mattel Inc., the global rights for Thomas & Friends in a multiyear licensing agreement.

Financial terms were not disclosed.

The agreement, which excludes Japan, incorporates Thomas & Friends vehicles, figures, play-sets, preschool toys and a range of other products. The first line of products will be available in 2010. HIT Entertainment said the line is expected to expand as existing licensees' rights expire.

The rights to Thomas & Friends' wooden track system remain with toy maker RC2 Corp.

Last year, RC2 voluntarily recalled about 1.7 million Thomas & Friends products that were made in China over concerns about dangerous levels of lead in the toys' surface paint. A nationwide class-action lawsuit followed. In July, RC2 said Monday it would pay $15 million to HIT Entertainment to be released from indemnification claims stemming from product recalls.

HIT Entertainment, which is owned by private equity investment group Apax Partners, holds the rights to other children's brands such as Barney and Bob the Builder.

© Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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