AETN/Lifetime Union Finalized
CEO Raven Addressed Staff Today
Claire Atkinson (Broadcasting & Cable) 9/16/2009 2:15:00 PM EDT

Disney-ABC TV, Hearst and NBC Universal finalized their already announced joint venture ownership of A&E Networks, which now officially incorporates Lifetime's femme-focused assets.

A&E CEO Abbe Raven addressed the staff today in a video and discussed the new entity which counts NBC Universal as a 15% stakeholder while Disney-ABC and Hearst hold the balance.

The move paves the way for decisions to be made on staffing needs since many back room positions are expected to be eliminated.