Comcast’s NBCUniversal unit has exercised an option to sell a "substantial portion of its stake in A&E Television Networks, reports The Wall Street Journal. (Please note that The WSJ is a subscription site and not all readers may be able to access the article.)
The sale, which would be to joint-venture partners Walt Disney and Hearst, could be worth about $2 billion, the story notes. Disney and Hearst declined to comment.
The parties are still negotiating how much of the stake will be sold. Comcast owns 15.8% of A&E, which consists of networks such as Lifetime and A&E, while Disney owns 42.1% and Hearst has a 42.2% stake.
Comcast had earlier said it had the right to require its partners to purchase part of the stake in the first quarter, according to the piece.