Hasbro, Discovery Secure TV, Online Joint Venture

A joint television network and Web site from Hasbro and Discovery Communications is set to premiere in late 2010, featuring programming based on My Little Pony, Transformers and others. A 50/50 venture was recently agreed upon by the toy maker and entertainment company.

The multi-platform project, aimed at kids ages 14 and under, will offer content from Hasbro's roster of entertainment and educational properties. A slate of original programming for animation, game shows, live-action series and specials is expected to be based on game and toy brands such as Romper Room, Trivial Pursuit, Scrabble, Cranium, My Little Pony, G.I. Joe, Game of Life, Tonka and Transformers. Discovery Communications will lend its children's entertainment programming including "Bindi the Jungle Girl," "Endurance," "Tutenstein," "Hi-5," "Flight 29 Down" and "Peep and the Big Wide World." Properties from third-party producers are also expected.

"We believe the time is right for Hasbro to take the next step into television through our partnership with Discovery Communications," says Brian Goldner, Hasbro's president and chief executive officer. "David Zaslav and his talented team have the experience, track record and ambition necessary to make this joint venture a long-term success as we build this network.  We look forward to creating fun, stimulating and educational content that will allow us to deliver all-new brand experiences to the young and 'young at heart'—anywhere and anytime they want."

At the closing of the deal, Hasbro will purchase a 50 percent stake in the joint venture, which will hold the assets related to Discovery Kids Network in the U.S., for which Discovery Communications will receive $300 million. The transaction also includes merchandising opportunities coinciding with on-air content. A president and general manager are currently being sought out for the network. Discovery Kids, the current title of the network, will remain until the debut of the new venture in late 2010 along with its new programming slate.