Comcast Strikes Deal to Sell A&E Stake for $3 Billion — Far More Than Earlier Estimates

Jul 11, 2012  •  Post A Comment

Comcast will sell its minority stake in A&E Television Networks for $3 billion, a higher price tag than Comcast had earlier valued the investment, reports Joe Flint in the Los Angeles Times’ Company Town.

Comcast had earlier pegged the value at $2 billion, when two months ago it disclosed that it had exercised an option to sell its 15.8% stake to majority owners Walt Disney Co. and Hearst Corp.

The ability to gain entire control of A&E Networks, which owns A&E, History and LIfetime, made the property more valuable to Hearst and Disney, who are now 50/50 partners, the story says.

"The channels — particularly History, which last month struck ratings gold with its ‘Hatfields & McCoys’ — are strong properties and cash cows," Flint writes.

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