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.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.