Comcast’s NBCUniversal agrees to sell full stake in A&E to Disney and Hearst for $3.03 billion

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. has a 15.8-per cent stake in A&E, and said it will sell that stake to Walt Disney Co. and Hearst Co., its partners in the A&E joint venture.

The company said in May that it had exercised an option requiring Disney and Heart 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.