Discovery, Hasbro Forming Kids' Network

Silver Spring-based Discovery Communications announced today that it was forming a joint venture with Hasbro to create a new TV network, to debut late next year, focused on children 14 and under. The joint venture will also form a related Web site and hold a minority interest in the U.S. version of

The network will show programming from Discovery, such as "Bindi the Jungle Girl" and "Tutenstein," as well as shows based on Hasbro brands like My Little Pony, G.I. Joe and Scrabble. Each company will hold 50 percent in the venture. It also include the U.S. assets of Discovery Kids Network, for which Discovery will get $300 million. The network will continue under the name Discovery Kids until the new, yet-to-be-named network kicks off.

Hasbro chief executive Brain Goldner called the network part of "reimagining the potential of our incredible portfolio of brands well beyond traditional toys and games."

By Terri Rupar  |  April 30, 2009; 12:09 PM ET  | Category:  Media
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