Hasbro plans TV network
By Staff -- Gifts and Dec, 4/30/2009 7:47:00 AM
PAWTUCKET, R.I., and SILVER SPRING, Md.—Hasbro is teaming with Discovery Communications in a joint venture to create a television network and website featuring content built around the toymaker’s brands.
Both the network and the venture’s online component will feature content from Hasbro’s portfolio of entertainment and educational properties, including original programming for animation, game shows and live-action series and specials. New children’s and family entertainment and educational programming will be based on brands such as Trivial Pursuit, Scrabble, Cranium, My Little Pony, G.I. Joe, Game of Life, Tonka and Transformers, among others. The TV network and online presence also will include content from Discovery’s library of 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 re-imagining the potential of our incredible portfolio of brands well beyond traditional toys and games,” said Brian Goldner, Hasbro’s president and CEO. “Today, consumers are embracing our powerful brands through unique and immersive entertainment and educational experiences in a number of areas, including movies and new digital platforms. We believe the time is right for Hasbro to take the next step into television through our partnership with Discovery Communications.”
Once up and running, the new channel—the name of which has yet to be determined—will replace Discovery Communications’ 13-year-old Discovery Kids Network. Discovery will retain the Discovery Kids brand for, among other things, its international networks and its licensing and merchandising business.
Financial details of the joint venture plan for Hasbro to purchase a 50 percent stake in the effort, which will hold the assets related to Discovery Kids Network in the U.S., for which Discovery Communications will receive $300 million. The joint venture’s rebranded network is expected to debut in late 2010 reaching approximately 60 million Nielsen households in the U.S. with programming geared to boys and girls 14 years of age and under. The joint venture also will participate in merchandising opportunities associated with on-air content. As part of the transaction, the joint venture also will receive a minority interest in the U.S. version of Hasbro.com.
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. Discovery Communications will handle advertising sales services, distribution, origination and other operational requirements for the proposed venture, while Hasbro will provide studio-produced programming.
Hasbro will also make a separate investment to establish a creative team that will allow Hasbro to create and produce content. Creative work will start in the next few months, the company says, beginning with early stage development for properties including Romper Room (reviving a 1970s children's show), 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.
Not unexpectedly, opponents of marketing efforts to children were quick to object to the idea of a toy company operating its own TV network.
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