new kid-targeted TV channel

Hasbro, Inc. and Discovery Communications are partnering in a new 50/50 joint venture that includes the creation of a new kid-targeted TV channel, which will take the place of the current Discovery Kids Network, and a corresponding website.  Set to launch in late 2010, the re-branded network will be targeted to kids 14 and under and will feature original programming based on Hasbro properties, Discovery Kids existing programming as well as third-part content.  The 13-year-old Discovery Kids Network will continue to operate until the debut of the new network (name TBA).  Discovery Communications will retain the Discovery Kids brand for, among other things, its international networks and its licensing and merchandising business.  Under the terms of the deal, Hasbro will purchase a 50% stake in the venture, which will hold the assets related to Discovery Kids Network in the US, for which Discovery Communications will receive $300 million.  The search for a President and GM for the network has begun. Discovery will handle ad sales, distribution, origination and other operational requirements for the venture, while Hasbro will provide studio-produced programming.  New programming will include shows (animated, live-action, game etc.) based on Hasbro's Romper Room, Tonka, G.I. Joe, Transformers, My Little Pony as well as Trivial Pursuit, Scrabble, and Cranium among others.