Toymaker Hasbro Inc.'s joint venture with Discovery Communications to create a TV network could be hurt by Disney's decision to acquire Marvel Entertainment Inc., an analyst said Monday.
The Walt Disney Co. said Monday it will acquire the entertainment company, which owns comic book characters such as Iron Man and Spider-Man, for $4 billion in cash and stock.
Wells Fargo analyst Tim Conder said in a note to investors that Hasbro recently extended its contract with Marvel until 2017.
"We do not view this transaction as having any material negative implications from this perspective," he wrote. Still, the decision might affect Hasbro and Discovery's TV network joint venture, since it makes it less likely the network will offer shows centered around Marvel characters.
Now, "it is highly likely that Disney will want to retain Marvel-related programming content for its own channels of distribution," Conder noted.
He kept his "Outperform" rating on the Pawtucket, R.I., company's stock. Shares of Hasbro fell 12 cents to $28.21 during morning trading.