Discovery, Hasbro Plan Joint Programming Venture for Kids
Discovery Communications said it is forming a children’s programming joint venture with Hasbro.
The joint venture will include a cable network and a Web site. It also will include the assets of what is now Discovery Kids Network in the U.S.
Hasbro will pay Discovery $300 million for the Discovery Kids assets.
The rebranded network is expected to debut in late 2010 with about 60 million subscribers.
Some new programming will be based on Hasbro brands such as Romper Room, Trivial Pursuit, Scrabble, Cranium, My Little Pony, G.I. Joe and Transformers. The channel also will use programming from Discovery’s kids library.
A search for a new general manager for the venue will begin immediately, the companies said.
Discovery will handle ad sales, distribution and other operations for the ventures. Hasbro will provide studio-based programming.
“Hasbro continues to evolve as a company with an unwavering vision of reimagining the potential of our incredible portfolio of brands well beyond traditional toys and games,” Hasbro President-CEO Brian Goldner said in a statement. “Today, consumers are embracing our powerful brands through unique and immersive entertainment and educational experiences in a number of areas, including movies and new digital platforms.”
“This joint venture reinforces Discovery’s strategy to develop strong brands, maximize the potential of our extensive distribution in the U.S. and work with the highest-quality content partners to create long-term value,” said David Zaslav, president-CEO of Discovery Communications.