Hasbro and Discovery Communications Announce Joint Venture to Create Television Network Dedicated to High-Quality Children's and Family Entertainment and Educational Content
Both the network and the venture’s online component will feature content from Hasbro’s rich portfolio of entertainment and educational properties built over the past 90 years, including original programming for animation, game shows, and live-action series and specials. New programming will be based on brands such as ROMPER ROOM, TRIVIAL PURSUIT, SCRABBLE, CRANIUM, MY LITTLE PONY, G.I. JOE, GAME OF LIFE, TONKA and TRANSFORMERS, among many others. The TV network and online presence also will include content from Discovery’s extensive library of award-winning children’s educational programming, such as BINDI THE JUNGLE GIRL, ENDURANCE, TUTENSTEIN, HI-5, FLIGHT 29 DOWN and PEEP AND THE BIG WIDE WORLD, as well as programming from third-party producers.
“Hasbro continues to evolve as a company with an unwavering vision of
reimagining the potential of our incredible portfolio of brands well
beyond traditional toys and games,” said
“We believe the time is right for Hasbro to take the next step into
television through our partnership with
“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
At the closing of the transaction, Hasbro will purchase a 50% stake in
the venture, which will hold the assets related to Discovery Kids
Network in the U.S., for which
Each company will have equal representation on a board of directors that
will oversee a management team responsible for programming, scheduling
and operations. The search for a President and General Manager for the
network will begin immediately.
Hasbro will also make a separate investment to establish a creative team that will allow Hasbro to create and produce the consumer-driven content children and families have come to expect from Hasbro’s unmatched brands. Creative work will start in the next few months beginning with early stage development for properties including ROMPER ROOM, TONKA, G.I. JOE, TRANSFORMERS and MY LITTLE PONY. The creative team will have the capability to produce animated, live-action, and game show programming as well as content designed for digital and mobile extensions.
Programming on the network will be designed to entertain and educate, echoing the popularity and appeal of Hasbro’s portfolio of brands and Discovery’s long-standing commitment to life-long learning with the goal of making our emerging networks more valuable to affiliates and more compelling for viewers. In the tradition of Discovery Kids, this will include a number of daily hours voluntarily devoted to educational/informative content.
The network will continue to operate as Discovery Kids until the debut
of the to-be-named channel and new programming slate.
Launched in 1996, Discovery Kids Channel has won multiple Daytime Emmys and Parents’ Choice Awards for its series and specials. Discovery Kids programming helps children satisfy their curiosity about a full range of science, adventure, exploration and natural history topics through documentaries, reality shows, scripted dramas and animated stories.
Hasbro was advised by
Discovery was advised by
Conference Call and Webcast Details
and Discovery CFO
Certain statements contained in this press release, including
statements related to the future expectations and timing for the
rebranding of the network, the types of content which the parties
currently plan to create and distribute via the network, and
expectations for the performance of the rebranded network, constitute
forward-looking statements. Such forward-looking statements are
subject to known and unknown risks and the actual actions or results may
differ from these current expectations. Factors which might cause
a difference between actual and expected events include: (i) greater
than expected costs or unexpected delays associated with the steps
necessary to rebrand the network, (ii) greater than expected costs or
unexpected delays related to Hasbro’s establishment and development of
the team and infrastructure to create and produce content for the
network, (iii) changes in plans with respect to the future content to be
created for the network or the timing for its development, or with
respect to the branding and marketing for the network, (iv) consumer
interest in and acceptance of the network and its programming, or in
entertainment-related product associated with the network, (v) the
financial performance of the network and other factors which impact the
resources the network has available and/or determines to spend on
programming, advertising and marketing, (vi) the willingness and ability
of Hasbro and Discovery to assist the network in meeting any financial
shortfalls it may experience or to otherwise support the network, (vii)
increased costs associated with, or delays in the production of, planned
content for the network, (viii) other factors which may lead to changes
in the branding of the network and/or the content to be developed for
the network, as well as (ix) other factors which are discussed in
Hasbro’s and Discovery’s public announcements and
Wayne Charness, 401-727-5983
Michelle Russo, 240-662-2901
Karen Warren, 401-727-5401
Craig Felenstein, 212-548-5109