The Walt Disney Co. has sold its 50 percent equity stake in A+E Global Media to Hearst for $1.2 billion in cash, ending the joint venture that was first created in 1984.
The deal will see Hearst take full control of the media company formerly known as A+E Networks, which owns brands like A&E, History and Lifetime, including cable TV channels, content studios, and streaming offerings. A+E has also invested in companies like Vice, Propagate Content, Atlas Obscura and Philo TV.
A+E will become a part of Hearst’s entertainment group upon closing later this year.
“We thank our Disney colleagues for decades of successful partnership,” said Steven R. Swartz, president and CEO of Hearst. “We look forward to supporting Paul Buccieri and A+E Global Media’s leadership team as they continue to make must-see programs and innovate around the great HISTORY, Lifetime and A&E brands.”
Paul Buccieri has led A+E since 2018.
