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Disney on Wednesday announced an agreement to sell its 50% stake in A+E Global Media for $1.2 billion in cash to Hearst, which would gain full ownership when the deal closes next month.
The big picture: Disney keeps cutting its legacy cable cords — mirroring its customers — even if that means losing a profitable business and deep content library.
By the numbers: A+E says its channels, including History and Lifetime, reach more than 414 million households in 200 territories in 40 languages.
