February 13, 2012 / 7:43 AM / in 6 years

CORRECTED-UPDATE 1-Entertainment One drops sale process

(Corrects paragraph 5 to remove reference to Peppa Pig being created by Wilbert Awdry. That author created Thomas the Tank Engine)

Feb 13 (Reuters) - Entertainment One Ltd said it is no longer considering a sale of the company, as it has not received any attractive buyout offers, and will instead focus on acquisitions.

“The board has considered various proposals that have been made for all or parts of the group and has concluded that these do not adequately reflect the company’s value,” Entertainment One said in a statement.

Entertainment One, which produces and distributes film and television content, said its financial advisors Credit Suisse and JP Morgan are evaluating a number of acquisition opportunities for the company.

In September, Entertainment One said it was considering takeover approaches to cash in on the huge popularity of its children’s TV character Peppa Pig.

The pig’s cult status has put it on par with Thomas the Tank Engine, and it was even courted by Britain’s Labour Party to appear as a mascot prior to the 2010 general election.

The company’s current rights library includes over 20,000 film and television titles, 2,500 hours of television programming and 45,000 music tracks.

Entertainment One also said on Monday it expects to report full year results in line with market expectations. (Reporting by A. Ananthalakshmi in Bangalore)

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