Discovery says 'fully on track' to see OWN's cash flow break even in 2H The company says it will continue to return capital to shareholders aggressively if it is the best use of its balance sheet, says first priority remains investing in core business. Anticipates returning similar amounts of capital to shareholders through buybacks in 2013 as in 2012. Comments made on the Q4 earnings conference call.
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.