Comcast is close to selling its stake in the A&E cable networks, which would bring in nearly $3 billion for just 15 percent of the company, according to The New York Times. The deal has been in the works for many months, and now awaits approval from banks.
A&E Networks, whose majority 85 percent stake is co-owned by ABC-Disney and the Hearst Corporation, will make the purchase of the Comcast stake and will pay back the loan from the networks’ profits.
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