Discovery takes control of Hub Network from partner Hasbro

NEW YORK – Discovery Communications Inc. acquired the control of The Hub from partner Hasbro Inc. and will rename the children’s TV network Discovery Family Channel as it looks to broaden its family and children’s programming.

Discovery’s stake has increased to 60 percent from 50 percent, while Hasbro’s had dropped to 40 percent, the companies said in a regulatory filing today. Hasbro received a $64.4 million cash payment from Discovery under the reorganization.

Discovery Family Channel, which will debut on Oct. 13, will offer kids shows including “My Little Pony” and “Transformers” during the day. Primetime viewers can watch family programming, such as “Flying Wild Alaska” and “Biggest Reveals,” Silver Spring, Md.–based Discovery said.

The cable operator of networks such as Discovery Channel and Animal Planet sold a 50 percent interest in its Discovery Kids network to toymaker Pawtucket, R.I.–based Hasbro for $300 million in 2009, renaming it The Hub. Hasbro characters such as G.I. Joe and My Little Pony have been a source of programming for the channel.

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The Hub Network has grown from almost 56 million homes in 2010 to approximately 70 million today, with Hasbro children’s content helping lift the viewership by kids ages 2 to 11 by 89 percent over the past three years, according to the statement.

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