Industry

Hearst has reached an agreement with subsidiaries of The Walt Disney Company to acquire Disney's 50% stake in A+E Global Media for approximately $1.2 billion in cash, making the media company a wholly owned Hearst business. The transaction is expected to close in September, subject to customary closing conditions. Following the completion of the deal, A+E Global Media will operate as part of Hearst's Entertainment group, ending a long-standing joint venture between the two companies.

"We thank our Disney colleagues for decades of successful partnership," said Steven R. Swartz, President and CEO of Hearst. "We look forward to supporting Paul Buccieri and A+E Global Media's leadership team as they continue to make must-see programs and innovate around the great HISTORY, Lifetime and A&E brands."
Paul Buccieri, President and Chairman of A+E Global Media, highlighted the company's strong position in an increasingly fragmented media landscape. "In a media environment defined by fragmentation, A+E Global Media's advantage is the strength and versatility of our brands, our strong partnerships and our vast library of owned assets," he said. "As we continue extending our storytelling globally across all platforms with IP that travels to every screen and form-factor, we believe we are well suited for whatever opportunities may come next. I also want to express my deepest thanks to Hearst, The Walt Disney Company and to our board members — both recent and past — for their guidance and support over the years."

Originally launched in 1984 as A&E (Arts & Entertainment Network), A+E Global Media has grown into a worldwide media company reaching more than 414 million households across 200 territories in 40 languages. Its portfolio includes globally recognized brands such as A&E®, Lifetime®, The HISTORY® Channel, LMN®, FYI® and VICE TV®.