Comcast sells stake in A&E; Networks to Hearst, Disney for $3 billion
Comcast Corp.has struck a deal to sell its minority stake in A&E; Television Networks, whose holdings include cable channels A&E;, History and Lifetime, for $3 billion.
While the sale was expected, the price tag was higher than Comcast thought its holdings were worth. Two months ago, when Comcast first disclosed that it had exercised an option to unload its 15.8% piece of A&E; Television Networks to majority ownersWalt Disney Co.andHearst Corp., it said its stake was worth $2 billion.
-- Ben Fritz, Los Angeles Times