Hasbro and Discovery launch TV network
May 1, 2009
Toy maker Hasbro has formed a joint venture with Discovery Communications to create a TV network with original programming based on Hasbro brands.
Hasbro has licensed its brands for a variety of different entertainments.
Under terms of the deal, Hasbro will pay Discovery $300 million in cash for a 50 per cent share in the venture, while Discovery will contribute the US operations of Discovery Kids, which had cash flow of about $25 million in 2008.