Disney Closes $1.2 Billion Sale of A+E Global Media Stake to Hearst

Disney has closed a deal to sell its 50% stake in A+E Global Media to longtime partner Hearst Communications for approximately $1.2 billion in cash, ending decades of joint ownership over cable networks including A&E, the History Channel, Lifetime and FYI. The transaction, expected to fully close in September, will make Hearst the sole owner of a media portfolio the two companies have shared for more than ten years.

Analyst Rich Greenfield first signaled the pending sale last week, and Disney confirmed the deal alongside its quarterly earnings report. Paul Buccieri, A+E Global Media’s president and chairman, will stay in his role once the transaction closes, now reporting into Hearst president and CEO Steven Swartz. Swartz thanked Disney for what he called decades of a successful partnership as the companies move to formally separate the venture.

The sale caps roughly a year of preparation, after Disney and Hearst brought in Wells Fargo last summer to explore options for the jointly held company. A+E Global Media remains profitable and carries no debt, a distinction few cable-focused businesses can claim as linear viewership continues eroding across the industry.

Much of that financial stability traces back to decisions Buccieri made early on, including an aggressive push into free ad-supported streaming channels, and to A&E’s practice of retaining ownership over much of its own programming library, a structure that sets it apart from many competitors reliant on licensed content.

The deal also includes A+E Studios, the unit behind Netflix’s “The Lincoln Lawyer,” along with A+E’s factual programming arm, its documentary label A&E IndieFilms, and streaming products such as History Vault and Lifetime Movie Club. Hearst will additionally inherit A+E’s partnership stakes in Propagate and Range Media Partners, along with its joint venture with Vice Media that operates Vice TV.

Disney is retaining its more valuable linear holdings, including ESPN and ABC, both tied closely to live sports and news programming that still reliably draws audiences. Hearst separately holds an 18% stake in ESPN, unaffected by this transaction. The A+E sale marks one of the first major portfolio moves since Josh D’Amaro took over as Disney’s chief executive, signaling a narrower focus on assets built around live programming rather than general cable entertainment.