Disney exits A+E Networks; Hearst acquires full stake in a $1.2 billion deal.

On Tuesday, the American private media group Hearst reached an agreement to acquire a 50% stake in A+E Global Media held by Disney for approximately $1.2 billion in cash, thereby fully owning the television and content business. Disney's decision to exit A+E is part of the company's commitment to prioritize the development of streaming and ESPN businesses, although it continues to evaluate the role of some of its traditional linear television assets against the backdrop of declining cable subscriptions. 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. A+E was previously a joint venture with Hearst and Disney each holding a 50% stake, operating television brands including A&E, Lifetime, History Channel, LMN, FYI, and Vice TV. It serves over 414 million households in 200 territories, offering services in 40 languages.