Discovery Communications is launching a new kids channel in partnership with kids toys manufacturer Hasbro.
The channel will premiere in 2010 in 60 million households and will be accompanied by a Website.
Discovery Kids channel will also serve the venture, which is billed as offering high quality and educational kids fare. Discovery Communications is launching a new kids channel in partnership with kids' toys manufacturer, Hasbro.
The network will be taking over the channel space currently occupied by Discovery Kids Channel, giving it 60 million homes when it launches in late 2010.
The deal is similar to the one Discovery made with Oprah Winfrey last year for OWN: The Oprah Winfrey Network. Hasbro will pay Discovery $300 million to become a 50% owner of the venture. The new JV will also obtain a minority interest in Hasbro.com.
The network will launch a slate of new programming based on Hasbro properties, including new shows based on G.I. Joe, Romper Room, Trivial Pursuit, Scrabble, Cranium, Transformers, Game of Life and My Little Pony. It will also feature Discovery shows such as Bindi the Jungle Girl, Endurance and Tutenstein.
In addition to OWN, which will take over the space currently occupied by Discovery Health, the company had previously rebranded Discovery Home as Planet Green.
"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," said David Zaslav, President and CEO of Discovery Communications. "Brian Goldner and the dynamic management team at Hasbro have a long track record of developing well-respected quality brands that entertain and encourage creative play. The combined assets of both partners provide a compelling platform for building a trusted children's destination that engages and enlightens a thirsty and growing audience."