Hasbro and Discovery name head of children’s entertainment joint venture

Hasbro and Discovery name head of joint-venture

PAWTUCKET, R.I. — Toymaker Hasbro Inc. and entertainment company Discovery Communications Inc. said Thursday that they have appointed a leader for a joint venture children’s entertainment network.

Margaret Loesch, a children’s entertainment veteran, will serve as the organization’s president and CEO. She will assume the position on Aug. 17. Loesch has helped launch the Fox Kids Network and was a co-founder of The Hatchery, a family media company. She also serves on the board of trustees of Sesame Workshop.

The network, which has yet to be named, is expected to have its premiere in fall of 2010 and reach 60 million households on what is currently the Discovery Kids channel. The companies said programming on the network will be designed to entertain and educate viewers.

Shares of Hasbro rose 21 cents to $24.70 in early afternoon trading Thursday. Shares of Discovery fell 33 cents to $23.24.