Discovery to acquire Takhayal Entertainment Discovery (DISCA) announced an agreement to acquire Dubai-based media company Takhayal Entertainment and its affiliated companies in Dubai and Egypt, including its flagship TV network, Fatafeat. The parties are in final stages of formalizing the transfer with the competent authorities. The transaction is a targeted step by Discovery to further extend its reach in the growing Middle East and North Africa television market. Reference Link
Hasbro reports pre-tax charge due to restructuring of Hub Network On September 25, Hasbro (HAS) and Discovery (DISCA) announced Hub Network would become Discovery Family Channel effective October 13, 2014. The network will broaden its programming focus to serve families in primetime and continue to showcase Hasbro Studios award-winning children’s content in daytime. As a result of restructuring the Company’s investment in the Hub Network joint venture, the Company recorded a pre-tax charge of $11.6M, or 6c per diluted share, in the third quarter 2014. This net charge is primarily related to the costs associated with recording the fair value of a put/call option exercisable at the end of 2021 that the Company and Discovery entered into related to this transaction.