Hearst Acquires Disney's Stake in A+E Global Media for $1.2 Billion

The Walt Disney Company has sold its 50 percent equity stake in A+E Global Media to Hearst for $1.2 billion in cash, ending a decades-long joint venture.

A+E Global Media owns brands like A&E, History, and Lifetime, including cable TV channels, content studios, and streaming offerings.

Hearst will take full control of the media company upon closing later this year, adding it to its entertainment group.

Paul Buccieri, president and chairman of A+E Global Media, expressed gratitude for Hearst's guidance and support over the years.