Disney sells A+E stake to Hearst for $1.2 billion, ending 40-year joint venture

The deal

Hearst has agreed to acquire Disney's 50% stake in A+E Global Media for approximately $1.2 billion in cash, the companies announced on August 4, 2026. The transaction will give Hearst full ownership of the television and content business, which includes cable networks A&E, History, Lifetime, LMN, FYI and Vice TV, as well as production studios and streaming services. The deal is expected to close in September, subject to customary closing conditions. Upon completion, A+E Global Media will become a wholly owned unit of Hearst's Entertainment group.

A four-decade partnership

The joint venture traces back to 1984, when the Arts & Entertainment Network was launched with Hearst and ABC (later part of Disney) as founding partners. NBC acquired a minority stake in 1993, and the company expanded with the acquisition of Lifetime Networks in 2009, another venture jointly owned by Disney and Hearst. In 2012, Disney and Hearst bought out NBCUniversal's remaining interest, making them equal 50-50 partners. The two companies began exploring a sale in July 2025, retaining Wells Fargo to market the asset. Starz was among the outside media companies that examined A+E, though it is unclear whether a formal bid was made. The deal comes amid broader media consolidation: Comcast recently spun out its cable channels into Versant, and Warner Bros. Discovery agreed to sell itself to Paramount Skydance.

What Hearst is buying

A+E Global Media reaches more than 414 million households across 200 territories in 40 languages. Its portfolio spans linear channels, content studios (A+E Studios, A+E Factual Studio, A&E IndieFilms), digital and streaming assets including apps, games, FAST channels, and subscription services such as Crime 360, Lifetime Movie Club and History Vault. The company has also invested in Vice, Propagate Content, Atlas Obscura and Philo TV. Hearst, a privately held media conglomerate with deep roots in newspapers and magazines and a group of 35 local TV stations, gains a substantial national cable presence through the acquisition.

Disney's strategic pivot

Disney's exit from A+E aligns with its broader effort to prioritize streaming and its ESPN sports business, while reassessing the role of traditional linear television assets as cable subscriptions decline. The company had been an equal partner in A+E for more than a decade. Hearst also holds a roughly 18% stake in ESPN, but that holding is separate and unaffected by the A+E transaction.

Leadership continuity

Paul Buccieri, who has led A+E since 2018, will remain president and chairman under Hearst's ownership. Hearst CEO Steven R. Swartz thanked Disney for the partnership.

We thank our Disney colleagues for decades of successful partnership. We look forward to supporting Paul Buccieri and A+E Global Media's leadership team as they continue to make must-see programs and innovate around the great History, Lifetime and A&E brands.

Buccieri emphasized the strength of the company's brands and library.

In a media environment defined by fragmentation, A+E Global Media's advantage is the strength and versatility of our brands, our strong partnerships and our vast library of owned assets. As we continue extending our storytelling globally across all platforms with IP that travels to every screen and form-factor, we believe we are well suited for whatever opportunities may come next.