Abbe Raven, president and CEO of A&E Television Networks, will run the new company being created by Disney-ABC TV, Hearst Corporation and NBC Universal to merge AETN and Lifetime, Broadcasting & Cable reports.
The trade magazine reported Wednesday that the three companies were considering consolidating AETN, History and Lifetime into a new joint venture, giving NBC Universal at stake in women’s cable network Lifetime. A source told the trade magazine that NBCU’s stake in the new venture would be in the mid-teens.
The new company will have 10 channels, including three of the top 12 cable brands and 15 Web sites. Disney CEO Bob Iger has suggested in the past that the cost-saving merger would allow Lifetime to take advantage of being part of a larger, more well-established and profitable cable company.
Lifetime President and Chief Executive Andrea Wong will report to Raven, who has worked at A&E Television Networks for twenty-five years, overseeing A&E and History Channels.