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,

It’s official — Hearst has announced an agreement to acquire Disney’s 50% interest in A+E Global Media for approximately $1.2 billion in cash. The transaction is expected to close in September, subject to customary closing conditions. Upon closing A+E Global Media will become a wholly owned Hearst business within its E

The two companies had been equal partners in the joint venture, going back decades.

Hearst has set a deal to acquire Disney’s 50% stake in A+E Global Media, the parent company of Lifetime, History Channel, A&E Network and other assets in a deal that calls for Hearst to pay Disney $1.2 billion in cash. Disney and Hearst have been 50-50 partners in A+E Global Media for more than a…