Hearst Clinches Deal to Buy Out A+E Global Media Stake From Disney

Hearst has finalized a deal to acquire Disney's 50% stake in A+E Global Media for approximately $1.2 billion in cash. The two companies had been equal partners in the joint venture for decades. A+E Global Media, the parent company of History Channel, Lifetime, and A+E Network, will become a wholly owned Hearst business within its Entertainment group. The transaction is expected to close in September, subject to customary closing conditions and final regulatory approvals.