Hearst Secures Disney's 50% A+E Stake in $1.2B Deal
TL;DR
Hearst will pay about $1.2 billion in cash to buy Disney’s 50% stake in A+E Global Media, giving Hearst full ownership of the A&E Networks—A&E, History, Lifetime, and FYI—within its Entertainment group. The deal, expected to close in September, follows a year-long process and will have Paul Buccieri continue leading A+E Global Media under Hearst. Disney has been pruning its cable division as linear viewership declines, while A+E remains profitable with a strong content library and ownership of much of its IP. Wells Fargo had been assessing a potential sale on Disney’s side.
- Disney Closes $1.2 Billion Deal To Sell A+E Global Media Stake To Hearst Deadline
- Hearst Clinches Deal to Buy Out A+E Global Media Stake From Disney for $1.2 Billion Variety
- Disney Sells Its Stake in A+E to Hearst for $1.2 Billion The Hollywood Reporter
- TV in 3: $1B A+E Deal Sets a Price on Cable; Netflix Co-License Spree The Ankler
- Walt Disney Co. stock outperforms competitors on strong trading day MarketWatch
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