NBCUniversal to Sell A&E Networks Stake for $3.03 Billion
Disney and Hearst will boost their stakes in the cable networks group to 50 percent each.
Comcast's NBCUniversal will sell its 15.8 percent stake in A&E Networks for $3.025 billion to lead shareholders Disney and Hearst, the company said in a regulatory filing Tuesday.
The price tag for the cable networks company, which includes such channels as A&E, Biography Channel, History and Lifetime, last week was estimated at $2.8 billion.
Under "certain limited circumstances,” the payment could not only come in cash but also include a senior note issued by A&E, according to the filing.
The deal still needs antitrust approval.
Disney and Hearst will raise their stakes from 42.1 percent to 50 percent.