The Hub Network will become Discovery Family Channel next month and will include more family-oriented programs in the evenings while maintaining its children's content during the day.
Silver Spring, Maryland-based Discovery Communications Inc. will have a 60 percent ownership interest in the joint venture, with Hasbro Inc. holding the remaining 40 percent. The companies previously each had a 50 percent stake.
Daytime programming will include some new Hasbro Studios' series along with existing shows from brands such as "My Little Pony" and "Transformers Rescue Bots."
Initial shows to be aired in prime time include "Time Warp" and "Flying Wild Alaska."
Tom Cosgrove will serve as general manager of Discovery Family Channel and manage all network operations and programming. He previously served as executive vice president and chief operating officer of Discovery Channel and Science Channel.
The Hub Network began as a joint venture between Hasbro and Discovery Communications in 2010, taking over from what was the Discovery Kids channel. The Hub Network reached nearly 56 million U.S. homes in 2010. It is currently in approximately 70 million homes, according to Hasbro and Discovery Communications.
The change is effective Oct. 13.
Shares of Hasbro, based in Pawtucket, Rhode Island, climbed $2.49, or 4.5 percent, to $57.44 in Thursday premarket trading.