Hearst has announced an agreement with subsidiaries of The Walt Disney Company where Hearst will 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 Entertainment group.
“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.”
“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,” said Paul Buccieri, president and chairman of A+E Global Media. “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.”
A+E Global Media, launched as A&E (the Arts & Entertainment Network) in 1984, today reaches more than 414 million households across 200 territories in 40 languages, and its well-known brands include A&E®, Lifetime®, The HISTORY® Channel, LMN®, FYI® and VICE TV®.
