Disney exits A+E Media Group as Hearst acquires its entire stake in a $1.2 billion deal
Source: Global Market Broadcast
On Tuesday, the US private media group Hearst reached an agreement to acquire Disney's 50% stake in A+E Global Media for approximately $1.2 billion in cash, thereby gaining full ownership of the television and content business.
Disney’s decision to exit A+E is part of the company's focus on prioritizing the development of its streaming and ESPN businesses. Despite the ongoing decline in cable TV subscriptions, Disney is still evaluating the role of some of its traditional linear television assets.
Hearst Group stated in a release that the transaction is expected to be completed in September. At that time, A+E will become a wholly owned subsidiary of Hearst Entertainment Group. Previously, A+E was a joint venture with Hearst and Disney each holding a 50% stake, operating TV brands including A&E, Lifetime, The History Channel, LMN, FYI, and Vice TV. It reaches 200 regions, serving more than 414 million households in 40 languages.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Graco director Steven B. Hedlund files initial beneficial ownership statement
CenterPoint Energy Reports Cybersecurity Incident Involving Customer Data
Greif SVP, Chief Commercial Officer Timothy Bergwall sells 2,000 common shares worth $166,289.60
8x8 Director Andrew Burton disposes of USD 194,267.32 in common shares
Crypto prices
More
