The Walt Disney Company is selling its 50% stake in A+E Global Media to its joint venture partner, Hearst Communications, in an all-cash deal valued at more than $1 billion. [1, 2, 3] The transaction will give Hearst full ownership of the media company, which includes cable networks like A&E, The History Channel, and Lifetime. [2, 5, 9]
The sale is one of Disney's first major moves to reduce its exposure to traditional linear television assets, a process that began under former CEO Bob Iger. [5, 9] The deal is reportedly in its final stages, with an official announcement expected during Disney's upcoming earnings call on August 5. [2, 3]