Stocks
Hearst Buys Disney's Stake in A+E Global Media for $1.2 Billion
Hearst has acquired Disney's 50% stake in A+E Global Media for $1.2 billion in cash, marking a significant deal in the media industry.
The acquisition brings an end to a year-long process that began last July when Disney and Hearst retained Wells Fargo to explore a potential sale.
A+E Global Media is home to cable networks A&E, the History and Lifetime suite of channels, and FYI. The company was previously owned 50-50 by Disney and Hearst, but will now become a wholly-owned Hearst business within its Entertainment group.