Comcast to sell off stake in A&E

Conglom's stake in company estimated to be worth $2 billion

Comcast is selling most of the minority stake in A&E Networks that came with its acquisition of NBCUniversal last year.

Conglom exercised an option to unload a “substantial portion” of the 15.8% stake in the company on March 26, according to a 10-Q filing issued Wednesday. “We expect the transaction to close during the second half of 2012, upon the agreement by all parties as to the value of NBCUniversal’s equity interest,” Comcast said.

Comcast’s stake in A&E Networks, which includes cable channels A&E, History and Lifetime, is worth more than $2 billion, according to the filing, which doesn’t specify how much the company is selling.

Hearst and Disney, which each own about 42% of A&E Networks, will likely split ownership of the company going forward. The companies also co-own ESPN, though Hearst has only a 20% stake in the valuable all-sports network.

The option was put in place when all three companies agreed to merge the assets of Lifetime and A&E Networks in 2009.

Comcast also maintains smaller stakes in companies including SpectrumCo, MSNBC.com, Clearwire and Weather Channel.

More TV

  • 'Shannara Chronciles' Canceled After Two Seasons

    'Shannara Chronicles' Canceled After Two Seasons

    Comcast is selling most of the minority stake in A&E Networks that came with its acquisition of NBCUniversal last year. Conglom exercised an option to unload a “substantial portion” of the 15.8% stake in the company on March 26, according to a 10-Q filing issued Wednesday. “We expect the transaction to close during the second […]

  • Ignacio SerricchioBET 'Zoe Ever After' Panel

    Telemundo International Studios Unveils First Drama Series at NATPE

    Comcast is selling most of the minority stake in A&E Networks that came with its acquisition of NBCUniversal last year. Conglom exercised an option to unload a “substantial portion” of the 15.8% stake in the company on March 26, according to a 10-Q filing issued Wednesday. “We expect the transaction to close during the second […]

  • Black Lightning -- "LaWanda: The Book

    TV Review: 'Black Lightning' on the CW

    Comcast is selling most of the minority stake in A&E Networks that came with its acquisition of NBCUniversal last year. Conglom exercised an option to unload a “substantial portion” of the 15.8% stake in the company on March 26, according to a 10-Q filing issued Wednesday. “We expect the transaction to close during the second […]

  • DEADPOOL

    MPAA: Film, TV Industry Paid Out $49 Billion in 2016

    Comcast is selling most of the minority stake in A&E Networks that came with its acquisition of NBCUniversal last year. Conglom exercised an option to unload a “substantial portion” of the 15.8% stake in the company on March 26, according to a 10-Q filing issued Wednesday. “We expect the transaction to close during the second […]

  • J.J. Abrams Broadway

    J.J. Abrams Sci-Fi Drama Series Shopped to Apple, HBO

    Comcast is selling most of the minority stake in A&E Networks that came with its acquisition of NBCUniversal last year. Conglom exercised an option to unload a “substantial portion” of the 15.8% stake in the company on March 26, according to a 10-Q filing issued Wednesday. “We expect the transaction to close during the second […]

  • 9-1-1: Angela Bassett in the series

    '9-1-1' Renewed for Season 2 at Fox

    Comcast is selling most of the minority stake in A&E Networks that came with its acquisition of NBCUniversal last year. Conglom exercised an option to unload a “substantial portion” of the 15.8% stake in the company on March 26, according to a 10-Q filing issued Wednesday. “We expect the transaction to close during the second […]

More From Our Brands

Access exclusive content