Hasbro, Discovery to Revamp Kids Channel

Hasbro has bought a stake in the Discovery Kids channel, which will be relaunched featuring new programs based on the toymaker’s catalog of popular properties.

The channel will relaunch late in 2010 with a new name and feature programs based on such toys and games as Scrabble, Cranium, G.I. Joe, Tonka, Transformers and Trivial Pursuit.

The deal calls for Hasbro to take a 50 percent share in the channel, while the joint venture will own a minority interest in the Hasbro.com website.

The move fits in with the strategies for each side, with Discovery revamping its cable networks into distinct brands and Hasbro expanding the entertainment presence of its toys through TV and movies such as this summer’s Transformers 2: Revenge of the Fallen and G.I. Joe: The Rise of Cobra.