Margaret Loesch Leaving Hub Network; Future of Network Unclear
Well this is sad news… Hub Network’s President and CEO Margaret Loesch is leaving at the end of this year, Deadline reports.
Margaret Loesch has been with the jointly owned network since 2009 when Discovery Communications and Hasbro Inc. announced they were forming a new network to replace Discovery Kids.
Rumors are swirling about the future of the fledgling network. Since launching in 2010, the network has found it hard to grow outside of mega hits like My Little Pony: Friendship is Magic – which enjoys its reign thanks to all the fans online – and Transformers series. Theories range from the network shutting down completely to rebranding and relocating from their current headquarters in Burbank, CA to Discovery’s home in Silver Spring, MD.
Hub Network’s officials are not commenting on the rumors of its future. Loesch’s contract expires at the end of the year.
Despite reaching 73 million homes – more than fellow digital network competitor Nicktoons – the network averaged only 114,000 total viewers in May 2014. That’s even behind Nicktoons.
Given that Hasbro’s Hasbro Studios supplies most of the original programming, a closure could allow the company to sell shows to competing networks.