A&E Networks Acquires Lifetime TVWeek
As expected--and as previously reported--A&E Networks announced today that it is acquiring Lifetime Entertainment Services.
A&E is co-owned by DIsney, Hearst and General Electric's NBC. Lifetime has been a 50/50 joint venture between Disney and Hearst.
In May, 2008, Disney CEO Robert Iger told Multchannel News that if would be better if Lifetime was part of the A&E group: "We leave some money on the table by not managing them as a whole, meaning one company."
According to the deal announced today--which the parties hope to conclude by the end of the year-- after 15 years NBC could exit the venture.