With the chief executive of the Hub stepping down this month, the future of the children’s channel, a co-venture between Discovery Communications and toymaker Hasbro, appears murky, reports Nellie Andreeva at Deadline.com.
Andreeva writes: “I was hearing the name of Discovery veteran Tom Cosgrove — CEO of another Discovery co-venture channel, 3D Television Network — as a potential replacement. Cosgrove continues to be rumored for the job.”
She adds: “Complicating a potential hire is the fact that 3D is a three-way venture of Discovery, Sony and Imax, but I hear Discovery has been exploring becoming a majority or sole owner of the fledgling 3D TV channel.”
Henry Schleiff, group president of Investigation Discovery, Destination America, American Heroes Channel (formerly Military Channel) and Discovery Fit & Health, might take oversight of the network, the piece adds.
It could also be rebranded, with its headquarters moved from Burbank to Discovery’s home in Silver Spring, Maryland.
“Of course, all this is contingent on partners Discovery and Hasbro reaching an agreement on what to do with Hub,” Andreeva notes. “The toy manufacturer, which put down $300 million for a 50% stake in the new network five years ago (plus another $150 [million]-$200 million to ramp up Hub supplier Hasbro Studios), has not given indication that it plans to pull out.”
The story adds: “One scenario has … Hasbro remaining a partner, with Hub successor airing the contractual amount of Hasbro programming until that contract is over, after which Hasbro would not have any involvement in the operation of the joint venture.”