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Hearst Acquires Disney's Stake in A+E Global Media for $1.2 Billion
Hearst has announced it will acquire Disney's 50% stake in A+E Global Media for $1.2 billion in cash.
The transaction is expected to close in September, at which point A+E Global Media will become a wholly owned Hearst business within its Entertainment group.
A+E Global Media, launched as A&E (the Arts & Entertainment Network) in 1984, today reaches more than 414 million households across 200 territories in 40 languages. Its well-known brands include A&E, Lifetime, The HISTORY Channel, LMN, FYI and VICE TV.
The deal reduces Disney's exposure to the declining cable network sector, which has been buffeted by cord cutting, and will give Hearst greater control over A+E, which in recent years has been working to diversify its revenue streams.