Hasbro and Paramount Home Entertainment announce Long-Term Video Distribution Relationship

Tuesday, June 8th, 2004 10:56AM CDT

Category: Site News
Posted by: Raymond T. Views: 25,657

A follow-up announcement from yesterday's press release has been made. This one focuses on the distribution of future direct-to-video media formats. Hasbro and Paramount Home Entertainment will venture into a Distrubution Relations for future titles including Transformers!

NEW YORK--(BUSINESS WIRE)--June 8, 2004--
Entertaining Stories Bring Favorite Toy and Game Brands to Life for Kids and Families

Hasbro, Inc. (NYSE:HAS) and Paramount Home Entertainment announced today an agreement in principle in which Paramount will gain worldwide distribution rights to Hasbro's wide range of direct-to-video titles based on the Company's unmatched portfolio of entertainment brands. The announcement was made in conjunction with today's start of Licensing 2004 International at the Jacob Javits Convention Center here in New York.

Hasbro will develop and produce the content, and Paramount Home Entertainment plans to market and distribute the titles through their regular children's entertainment channels. The initial slate of brands on which Hasbro and Paramount will work together include G.I. JOE, TRANSFORMERS, TONKA, DUEL MASTERS, SECRET CENTRAL, WEEBLES and CANDY LAND.

The first two titles, "G.I. JOE: VALOR VS. VENOM" and TONKA "TOUGH TRUCK ADVENTURES: THE BIGGEST SHOW ON WHEELS," are scheduled to hit retail this September, with the release of TRANSFORMERS ENERGON and "HAVE YOU HEARD?" SECRET CENTRAL to follow in October. Titles based on the remaining properties are expected to be released in the spring of 2005.

"This new relationship with Paramount Home Entertainment is an exciting way for us to continue the legendary sagas of properties such as TRANSFORMERS and G.I. JOE and to develop rich fantasies for new and classic brands," said Jane Ritson-Parsons, President of the Hasbro Properties Group, the intellectual property development and licensing arm of Hasbro. "Paramount are worldwide leaders in this category, and together, we will broaden consumers' experience with our properties and provide new opportunities for retailers."

"We are very excited to work with Hasbro in bringing their exciting properties to the DVD world," said Thomas Lesinski, President, Paramount Pictures, Worldwide Home Entertainment. "Hasbro has long been a market leader with its toy and game brands, and this new product line will add significantly to our children's programming, appealing to boys and girls from their preschool to preteen years."

Hasbro (NYSE:HAS) is a worldwide leader in children's and family leisure time entertainment products and services, including the design, manufacture, and marketing of games and toys ranging from traditional to high-tech. Both internationally and in the U.S., its PLAYSKOOL, TONKA, MILTON BRADLEY, PARKER BROTHERS, TIGER and WIZARDS OF THE COAST brands and products provide the highest quality and most recognizable play experiences in the world.

The Hasbro Properties Group develops and expands Hasbro's core brands, such as G.I. JOE, TRANSFORMERS, MY LITTLE PONY, MONOPOLY, and CANDYLAND, into a wide variety of entertainment and consumer categories.

Paramount Worldwide Home Entertainment is a division of Paramount Pictures, which is part of the entertainment operations of Viacom Inc., one of the world's largest entertainment and media companies, and a leader in the production, promotion, and distribution of entertainment, news, sports, and music. Paramount Worldwide Home Entertainment distributes DVD and VHS in North America and internationally through 13 subsidiaries, one joint venture and 32 licensees covering 60 countries.

Original source Business Wire

You can also view this article at Forbes.com

Credit(s): Business Wire