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Discovery Kids Sells Out

No way my kids are watching this new station.

Heightening the competition among children’s TV channels, Hasbro and Discovery Communications announced a joint venture Thursday that will create a reformatted cable channel with programs based on G.I. Joe, My Little Pony and other toy brands.

The 13-year-old Discovery Kids Channel will be replaced by the new venture, which has yet to be named. For Hasbro, the Discovery deal represents a big step into television; the company is expected to produce animated, live-action and game shows.

Discovery Communications, under its chief executive, David Zaslav, has pushed for more profits from its portfolio of cable channels. In a deal similar to the one with Hasbro, Discovery has a joint venture with Oprah Winfrey to turn the Discovery Health Channel into OWN: The Oprah Winfrey Network. The new network is expected to debut early next year.

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