NBCU sells A+E stake for $3.03bn
By Robert Briel
he Walt Disney Company and Hearst Corp. will acquire NBCUniversal’s 15.8% stake in A+E Television Networks for $3.03 billion (€2.46 billion).
In a filing with the Securities Exchange Commission, NBCU parent company Comcast reported that it will sell its 15.8% share in A+E to joint-venture partners Walt Disney and Hearst Corp.
After the deal is closed, Disney and Hearst will each own 50% of AETN, which includes A&E Network, The History Channel, Bio, Crime & Investigation Network and Military History.
Comcast originally acquired its stake in A+E in January 2011 when it purchased a 51% stake in NBCU from General Electric.
NBCU has had the right to put its interest in A+E to its partners since 2009, part of the agreement that combined A+E with cable channel Lifetime.
Comcast revealed last May that its NBCUniversal group would sell off its interest in A+E Networks