Apax to sell Hit Entertainment

Venture capital firm Apax Partners is preparing to sell its stake in the children’s media company behind Thomas the Tank Engine and Bob the Builder, while it also undergoes another shake up of senior management. The firm has received a number of expressions of interest for Hit Entertainment from a range of US groups including Hasbro, Walt Disney and Viacom. Apax is also considering a sale of Trader Media, which publishes Auto Trader magazine.