Lionsgate fortified its core home entertainment business and vast library Monday by securing multiyear distribution rights to HIT Entertainment's portfolio of family product.

Hit Entertainment, the kidvid mainstay known for "Thomas the Tank Engine," "Barney and Friends" and "Bob the Builder," has launched a movie division.

Mattel Inc. has agreed to buy HIT Entertainment, the company behind Thomas the Tank Engine and Bob the Builder, in a deal valued at $680 million.