Discovery Takes Control of Hub Network, Will Give Namesake Brand
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Discovery Communications Inc. acquired 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.