Disney to Sell 50% Stake in A+E Media to Hearst in All-Cash, Billion-Dollar Deal

The company is expected to announce the sale in its earnings call next week Toby Byrne (Photo courtesy of A+E Global Media) Disney will sell its 50% stake in A+E Global Media to Hearst in a billion-dollar deal, TheWrap has learned. The company is expected to announce the sale in its earnings call next week. This marks the company’s first strategic sale under the leadership of new CEO Josh D’Amaro. The deal is reportedly worth upwards of $1 billion and is all-cash, according to media reports. Rich Greenfield’s Lightshed Partners initially reported news of the deal. TheWrap reached out to Disney, Hearst and A+E for comment. Disney’s potential sale of A+E Global Media to Hearst was first reported last summer. A+E Global Media owns cable channels including A+E Network, History Channel and Lifetime. A+E Global Media’s President & Chairman Paul Buccieri will reportedly continue to lead the company following the transaction under Hearst CEO Steven R. Schwartz. The company is currently a 50-50 joint venture between Disney and Hearst and hired the investment banking arm of Wells Fargo to explore potential sale options last July. More to come…