Discovery and Hasbro partnering on kids’ TV network
Discovery Communications and toy giant Hasbro Inc. have agreed to create a 50/50 joint venture, including a TV network and a Website, dedicated to children and family entertainment and educational programming. It will hold the assets of Discovery Kids Network in the U.S., for which Discovery will receive $300 million.
As part of the transaction, the venture will also get a minority interest in the U.S. version of Hasbro.com.
The rebranded network is expected to debut in late 2010 reaching approximately 60 million, the companies said.