Well, I know where I stand on this, completely not interested. The thought of a new kids network comprising of shows based on Tonka, G.I. Joe, Transformers and My Little Pony just is not for our family.
I also like the doublespeak “This joint venture reinforces Discovery’s strategy to develop strong brands…blah blah” means “we are selling out to the highest bidder..eat my dust while I run to the bank cackling..”
From the Washington Business Journal:
Hasbro, the nation’s No. 2 toy maker, has closed on a deal to buy a 50 percent stake in Discovery Communications’ Discovery Kids Network for $300 million.
The two companies plan to re-launch a yet-to-be re-named Kids Network channel in late 2010.
The new network will feature programming and online content built around Hasbro’s games and toys, including Romper Room, Trivial Pursuit, Scrabble and Cranium. Programming will include cartoons, game shows and specials. It will also include content from Discovery’s library of children’s education programming.
The two also plan to take advantage of merchandising opportunities the new shows create.
The deal was first announced in April.
“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, Discovery Communications chief executive David Zaslav said when the partnership was first announced.
Under terms of the deal, both Hasbro (NYSE: HAS) and Silver Spring-based Discovery (NASDAQ: DISCA) will have equal representation on the joint venture’s board of directors. Discovery will handle advertising sales and distribution. Hasbro will provide studio-produced programming.
The two plan to start development of new shows based on Tonka, G.I. Joe, Transformers and My Little Pony within the next few months.
Discovery launched the Discovery Kids channel in 1996.