Chris Large/History “Hatfields & McCoys” on History. A&E Networks, which owns History and other cable properties, has been a valuable asset because of such shows.Comcast said on Tuesday that its NBC Universal subsidiary had agreed to sell its 15.8 percent stake in A&E Television Networks for $3 billion.
A&E will likely buy back the stake with a cash payment, although it may also opt to pay with cash and a note. The money for the transaction will be provided by its remaining owners, the Walt Disney Company and the Hearst Corporation.
The deal values A&E at about $19 billion, an enormously valuable asset for Disney and Hearst.
The network has become one of the most lucrative companies in cable television, thanks to properties like History, Lifetime and A&E. The New York Times’s Media Decoder blog previously reported that the company generated about $1.4 billion annually.
The company was created in 2009 from the union of the A&E and Lifetime channels. From the start, NBC Universal was the junior partner in the venture, and had the right to redeem its stake.
Comcast disclosed in May that it was in talks to sell at least some of NBC‘s stake in A&E back to the cable-channel company.
The joblessness rate sank to 7.7 percent as 236,000 positions were added across a broad range of sectors, but analysts warned that federal budget cuts could slow the recovery.
The new company, which will consist of more than 100 newspapers, will have a big cash safety net and no debt when it separates from the entertainment part of News Corporation.
Leslie Dach, who is credited with polishing the company’s image through energy conservation, environmentally friendly packaging and philanthropy, is resigning after almost seven years.
Leslie Dach, who is credited with polishing the company’s image through energy conservation, environmentally friendly packaging and philanthropy, is resigning after almost seven years.
Whole Foods, the first retailer in the country to require such labeling, said all foods sold in its stores would need to be labeled within five years.
A study charts the impact of energy poverty on public health and education.
Skip and Karen Finley attribute their 41 years of marriage to always ending conversations with, “I love you.”
Four former public officials pleaded guilty Friday to illegally selling information to the Rupert Murdoch-owned tabloid, The Sun.
The new company, which will consist of more than 100 newspapers, will have a big cash safety net and no debt when it separates from the entertainment part of News Corporation.
The Internet pioneer takes on one of the country’s biggest workplace issues in the hope of fostering more innovation.
An unexpectedly large number of high-technology start-ups are valued at $1 billion or more.
The success of crowdfunding sites defies the rules of supply and demand — which is why we can learn so much from them.
Children who get less exercise show greater hormonal responses to stress, a Finnish study finds.
Whole Foods, the first retailer in the country to require such labeling, said all foods sold in its stores would need to be labeled within five years.
At times, I have to admit, there is absolutely no response to my cancer that seems acceptable to me, probably because the cancer isn’t.
Sign up for the DealBook Newsletter, delivered every morning and afternoon, and receive breaking news alerts throughout the day.
Sign up for the latest financial news delivered every morning and afternoon.
Facebook
Twitter
YouTube
RSS