Round-up of Wednesday's business pages

LONDON (Reuters) - Here is a summary of the main stories in Wednesday's business pages.

The Times

POSTMAN PAT PLANS TO DELIVER PROFITS FROM CHINA

Entertainment Rights, owner of the Postman Pat franchise, has signed licensing deals for merchandising and DVD sales in China a fortnight after the series began broadcasting on the country's national CCTV Children's channel. China's one-child policy is a potential boost as it means adults may be more willing to fork out for toys and DVDs for children in their family.

BSKYB TUNES UP FOR DIGITIAL MUSIC BATTLE WITH APPLE

BSkyB (BSY.L) is planning to go head-to-head with Apple's (AAPL.O) iTunes with a new subscription-based digital music service. Packages are likely to be priced at around 10 pounds a month. BSkyB has recruited Universal Music, the world's largest music group, and is hoping the other three majors will sign up soon. Customers will be able to stream any song from the catalogue of Universal Music direct to their computer.

LION CAPITAL SNAPS UP FINDUS AND YOUNG'S IN 1.1 BILLION POUND DEAL

Weetabix owner Lion Capital, the private equity group, has paid 1.1 billion pounds for FoodVest, the maker of Findus frozen foods, Young's seafood products and Admiral Pie - the UK's biggest-selling frozen ready-meal. Per Harkjaer, Foodvest's chief executive, said the deal came following an unsolicited offer from Lion to Capvest, which owns FoodVest. Lion Capital partner Lyndon Lea said the group would look to expand through bolt-on acquisitions in Europe.

The Daily Telegraph