Disney exits A+E as media conglomerate Hearst gains full ownership in $1.2 billion deal

Aug 4 : Privately held U.S. media conglomerate Hearst on Tuesday struck a deal to acquire Disney's 50 per cent stake in A+E Global Media for about $1.2 billion in cash, giving it full ownership of the television and content business.Disney's exit from A+E follows the company's efforts to prioritize streaming and ESPN, even as it evaluates the role of some traditional linear TV assets amid declining cable subscriptions.• The transaction is expected to close in September. A+E will then become a wholly owned Hearst business within the company's entertainment group, Hearst said in a statement.• A+E, previously a 50-50 venture between Hearst and Disney, operates television brands including A&E, Lifetime, The History Channel, LMN, FYI and Vice TV. It reaches more than 414 million households acro