Comcast Sells A&E Stake to Disney, Hearst for $3 Billion

By: Associated Press Email

Posted: Tue 1:33 PM, Jul 10, 2012

NEW YORK - Comcast's NBCUniversal is selling its stake in A&E Television Networks to Disney and Hearst for $3.03 billion in cash.

Comcast Corp., which owns 15.8 percent of A&E, said it will sell its stake to Walt Disney Co. and Hearst Co., its partners in the A&E joint venture.

The company said in May that it had exercised an option requiring Disney and Hearst to buy back a significant portion of their ownership in A&E.

A&E channels include the History Channel, Lifetime, Biography as well as its namesake network.

Comcast, a cable company based in Philadelphia, has a controlling interest in NBCUniversal and plans to acquire the remaining 49 percent stake held by General Electric Co.

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Comcast Sells A&E Stake to Disney, Hearst for $3 Billion

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