TV

The Canadian Press - ONLINE EDITION

Comcast's NBCUniversal agrees to sell A&E stake to Disney/Hearst for $3.03B

  • Print

NEW YORK, N.Y. - Comcast's NBCUniversal is selling its stake in A&E Television Networks to Disney and Hearst for $3.03 billion in cash.

Comcast Corp., which owns 15.8 per cent of A&E, said Tuesday that it will sell its stake to Walt Disney Co. and Hearst Corp., its partners in the A&E joint venture.

The company said in May that it had exercised an option requiring Disney and Hearst to buy back a significant portion of their ownership in A&E.

A&E channels include the History Channel, Lifetime, Biography as well as its namesake network.

Comcast, a cable company based in Philadelphia, has a controlling interest in NBCUniversal and plans to acquire the remaining 49 per cent stake held by General Electric Co.

Hearst is one of the largest media companies in the U.S., owning newspapers like the San Francisco Chronicle and magazines including Good Housekeeping and O, The Oprah Magazine. The company also operates 29 TV stations and holds a 20 per cent stake in sports network ESPN.

Disney owns the rest of ESPN, along with a movie studio, more TV properties and theme parks.

Comcast shares dropped 6 cents to $31.22 in afternoon trading, while Disney stock fell 73 cents, or 1.5 per cent, to $47.27.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Key of Bart: No Time Left for Stu

View more like this

Photo Store Gallery

  • Winnipeg’s best friend the dragon fly takes a break at English Gardens in Assiniboine Park Wednesday- A dragon fly can eat  food equal to its own weight in 30 minutes-Standup photo- June 13, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • A goose flys defensively to protect their young Wednesday near Kenaston Blvd and Waverley -See Bryksa 30 Day goose challenge- Day 16 - May 23, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Do you think the Jets' three pre-season losses in a row are a sign of things to come?

View Results

View Related Story

Ads by Google