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Discovery Communications and toy giant Hasbro Inc. have agreed to create a 50/50 joint venture, including a TV network and a Website, dedicated to children and family entertainment and educational programming. It will hold the assets of Discovery Kids Network in the U.S., for which Discovery will receive $300 million.
As part of the transaction, the venture will also get a minority interest in the U.S. version of Hasbro.com.
The rebranded network is expected to debut in late 2010 reaching approximately 60 million, the companies said.
It will feature content from Hasbro’s portfolio of entertainment and educational properties, including original programming for animation, game shows, and live-action series and specials.
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