Comcast- NBCU Selling A&E Networks Stake

Three years after NBCUniversal’s stake in A&E Television Networks was diluted following the addition of Lifetime, NBCUniversal is cashing out to the tune of several billion dollars. Industry sources I’ve spoken with indicate that NBCU would likely part with its entire stake in the partnership in a deal that is estimated at more than $2 billion —¬†as much as twice that amount. According to a Wednesday filing with the Securities and Exchange Commission by NBCU parent Comcast obtained by The Wall Street Journal, NBCU on March 26 exercised an option to sell “a substantial portion” of its stake in A&E TV Networks to its joint-venture partners, the Walt Disney Co. and Hearst Corp. Hearst and Disney initially owned 37.5% of A&E TV Networks, and NBCU held a 25% stake. When Lifetime, a 50-50 partnership between Hearst and Disney, was folded into A&E TV Networks in 2009, Disney and Hearst’s ownership increased to about 42.1% each, while NBCU’s dropped to 15.8%. (more…)

This article was printed from https://deadline.com/2012/05/nbcuniversal-to-sell-stake-in-ae-networks-267150/