Hearst has revealed that it will officially acquire Disney’s 50% interest in A+E Global Media for approximately US$1.2bn in cash.
The transaction is expected to close in September, subject to customary closing conditions.
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 most well-known brands include A&E, Lifetime, The History Channel, LMN, FYI, and Vice TV.
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“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.”
Disney+ recently began rolling out support for 17 additional languages, bringing its total to 58 audio languages. Discover more here.
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