Discovery Communications Inc

In a deal that will surely make activist groups froth and may have rivals looking over their shoulders, Discovery Communications Inc. and Hasbro Inc. are partnering on a new kids' cable channel aimed at the elusive 14-and-under demographic. Under the terms of the deal, Hasbro, maker of Trivial Pursuit, G.I. Joe, Transformers and Scrabble, will pay $300 million for a 50% stake in Discovery Kids Network, the cable programmer's children's channel, which is available in 60 million homes.

One of the world's most valuable names on cable TV may soon be up for grabs as a result of a financial maneuver Tuesday by cable mogul John Malone. Liberty Media Corp., Malone's cable programming company, said Tuesday that it would spin off its 50% stake in Discovery Communications Inc., which owns cable networks such as the Discovery Channel, TLC, Animal Planet and the Travel Channel. Discovery, based in Silver Spring, Md.

Cable programmer Discovery Communications Inc. on Tuesday began its march into Hollywood by plucking a veteran TV executive to run its TLC cable channel, which it hopes to turn into a more popular destination for women. The hiring of Angela Shapiro-Mathes, president of Fox TV Studios and a former Walt Disney Co. executive, represents a dramatic departure for the Silver Spring, Md.-based company. Discovery to date has largely operated outside the media power centers of L.A. and New York.

In a development that highlights CBS Corp.'s difficulties in the cable-TV business, the broadcasting company has struck an alliance with cable programmer Discovery Communications that will halve its ownership of the unprofitable CBS Eye on People television channel. Analysts say CBS' pullback from the only wholly owned cable channel it has launched raises questions about its commitment to a business that other broadcasters consider an important hedge against the erosion of their audience.

Martha Stewart Living Omnimedia Inc. said that it signed with cable company Discovery Communications to rebroadcast Stewart's upcoming daytime TV show and air a new home-improvement reality series.

Discovery Communications, the media company behind the educational program "Planet Earth" whose networks include Discovery Channel and Animal Planet, plans to close its 103 retail stores and lay off about 25% of its total workforce. The stores will close in the fall. About 1,000 workers at the stores and elsewhere in the company will lose their jobs, Discovery said Thursday.

In a move that is likely to affect programming on Public Broadcasting Service and A&E cable network, British Broadcasting Corp. and Discovery Communications announced a $600-million joint venture Thursday. The partnership, which has been in negotiations for 18 months, will include co-productions for nonfiction programming that will air on Discovery's cable networks and the launch of new cable networks abroad and in the United States.

Despite the huge success locally of last summer's Women's World Cup, Los Angeles will not have a team in the women's professional soccer league set to begin play in April 2001. The Women's United Soccer Assn. (WUSA) on Monday identified its eight initial franchise cities and announced that it had signed a four-year cable TV contract with Time Warner Inc. The league conditionally named Atlanta, Boston, New York, Philadelphia, Orlando-Tampa Bay, San Diego, San Francisco and Washington D.C.

Discovery Communications Inc., owner of the Discovery Channel on cable TV, said it's starting a digital cable network that will offer 24-hour programming with high-definition picture quality. The new network, called Discovery HD Theater, will begin service on June17 on digital cable and satellite-TV systems.