Discovery Kids to become GI Joe/Transformers Channel (kind of)
Okay, maybe it won't actually
become the G.I. Joe/Transformers Channel, but Discovery Communications and Hasbro have announced their plans to transform (no pun intended) the Discovery Kids Channel into a new network that showcases the best of both companies. So alongside existing Discovery Kids shows like Bindi The Jungle Girl, Turenstein,
, will be shows based on Hasbro properties such as G.I. Joe
, and My Little Pony
“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.”
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 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.
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.
In the tradition of Discovery Kids, this will include a number of daily hours voluntarily devoted to educational/informative content.
"Shout, shout, let it all out..."