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.



Share This Story

You may login with either your assigned username or your e-mail address.
The password field is case sensitive.