Tyke group takes hit.(World News)

Hit Entertainment, the international tyke producer and fights holders whose properties include "Barney" and "Thomas the Tank Engine" has written down $500 million from its balance sheet but has secured a financial agreement that the company said puts it back on a sound financial footing.

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Apax Partners, the private equity combo that bought Hit before the credit crunch, bore the full brunt of the "goodwill writedown," which left Hit with a pre-tax loss of $569 million for the …