Comcast sells A&E stake to Disney, Hearst for $3B
- Details
- Published on 07/10/2012 - 11:41 am
- Written by Associated Press
Walt Disney Co. to buy some of Comcast's stake in A&E(AP) — Comcast's NBCUniversal is selling its stake in A&E Television Networks to Disney and Hearst for $3.03 billion in cash.
Comcast Corp., which owns 15.8 percent of A&E, said it will sell its 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, 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.
