Walt Disney Co. is selling its 50% stake in A+E Global Media to co-owner Hearst Communications in a deal valued at more than $1 billion, according to sources familiar with the matter. The all-cash transaction, which is expected to be finalized and announced at Disney's upcoming earnings call next week, marks Disney's latest move to shed linear television assets as it focuses on streaming.
A+E Global Media, formerly known as A+E Networks, operates cable channels including A&E, History, and Lifetime. Disney and Hearst have jointly owned the media company for over a decade. The sale comes amid a broader industry shift away from traditional cable as viewers migrate to digital platforms.
The deal, reportedly worth north of $1 billion, is being finalized, though specific terms have not been disclosed. Sources indicated that the transaction is expected to be revealed during Disney's earnings call next week. Neither Disney nor Hearst has commented publicly on the pending sale.