MUMBAI: Hasbro has entered into a deal with Discovery Communications buying a 50 per cent stake for around $300 million in Discovery Kids.According to the terms of the agreement, the two companies will have equal representation on the joint venture‘s board of directors with the distribution and ad sales taken care by Discovery and Hasbro providing studio produced programming.
The joint venture planned to create a rebranded television network will be launched in late 2010.
Targeted at family audience and children, the network will feature entertainment and educational properties based on Hasbro‘s brands including Romper Room, Trivial Pursuit, Scrabble, G.I. Joe and Transformers. Also, the duo plan to launch several merchandises based on the new shows.
