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Comcast sells A&E stake to Disney, Hearst for $3B

Tue, 07/10/2012 - 2:55pm
The Associated Press

Comcast's NBCUniversal is selling its stake in A&E Television Networks to Disney and Hearst for $3.03 billion in cash.

Comcast has a 15.8 percent stake in A&E and said it will sell that stake to Walt Disney Co. and Hearst Co., its partners in the A&E joint venture.

The company said in May that it had exercised an option requiring Disney and Hearst to buy back a significant portion of their ownership in A&E.

A&E channels include the History Channel, Lifetime and Biography, as well as its namesake network.

Comcast, a cable company based in Philadelphia, has a controlling interest in NBCUniversal and plans to acquire the remaining 49 percent stake held by General Electric Co.

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