The Walt Disney Company has agreed to sell its 50% stake in A+E Global Media to Hearst for approximately $1.2 billion in cash, ending a joint venture that dated back decades. Hearst announced the agreement, and the transaction is expected to close in September. A+E Global Media is the parent company of several established cable networks, including A&E, the History and Lifetime suites of channels, and FYI. Disney and Hearst had been equal partners in the venture, which owns and operates the networks. Once the deal is completed, Hearst will gain full ownership of the media company. The sale marks Disney's exit from the A+E partnership, which had been a major player in cable television.