Hearst to Acquire Disney’s 50% Stake in A+E Global Media for $1.2 Billion

The deal ends a joint venture that dates back to 1984. While the two companies have operated as equal partners in A+E Global Media for more than a decade, Disney is now offloading its interest.

The $1.2 Billion Transition to Hearst Ownership

Upon the expected September closing, A+E Global Media will transition into a wholly owned Hearst business within its Entertainment group. This move represents a return to national media for Hearst, a company with deep roots in magazines, newspapers, and 35 local TV stations.

The sale process began in July 2025 when Disney and Hearst retained Wells Fargo to explore potential sale options. While Starz reportedly looked at the company, Hearst ultimately secured the full stake.

“We thank our Disney colleagues for decades of successful partnership. We look forward to supporting Paul Buccieri and A+E Global Media’s leadership team as they continue to make must-see programs and innovate around the great HISTORY, Lifetime and A&E brands.”

Steven R. Swartz, President and CEO of Hearst

A+E Global Media’s Portfolio and Market Reach

The acquisition encompasses a vast array of linear channels and digital assets. Beyond the flagship A&E, History, and Lifetime brands, the deal includes the Lifetime Movie Network, FYI, and Vice TV. The company’s reach is expansive, serving more than 414 million households across 200 territories in 40 languages.

• Content Studios: A+E Studios, A+E Factual Studio, and A&E IndieFilms.
• Digital & Streaming: A+E Global Media Digital, including services like History Vault, Lifetime Movie Club, and Crime 360.
• External Stakes: Investments in Vice Media, Propagate, Range Media Partners, and Atlas Obscura.

This infrastructure has allowed the company to maintain profitability and a debt-free balance sheet despite the broader decline of the cable ecosystem. A key driver of this stability has been the early adoption of the FAST channel model and the ownership of a large portion of its own content, a rarity in the cable industry. This ownership is evidenced by the success of A+E Studios, which produced “The Lincoln Lawyer,” a series that currently streams on Netflix.

Paul Buccieri’s Strategy Amid Fragmentation

Paul Buccieri, who has served as president and chairman since 2018, will remain at the helm following the transaction. His leadership has focused on diversifying revenue streams to counter the “cord-cutting” trend that has eroded the traditional pay-TV base.

“In a media environment defined by fragmentation, A+E Global Media’s advantage is the strength and versatility of our brands, our strong partnerships and our vast library of owned assets. As we continue extending our storytelling globally across all platforms with IP that travels to every screen and form-factor, we believe we are well suited for whatever opportunities may come next.”

Paul Buccieri, President and Chairman of A+E Global Media

By shifting toward high-end production and niche subscription services, Buccieri has attempted to insulate the company from the linear viewership declines.

Disney’s Linear Retreat

For Disney, the $1.2 billion cash infusion serves as a tactical exit from a non-core asset.

This exit follows a complex ownership history. The company was founded in 1984 as the Arts & Entertainment Network, originally owned by Hearst and ABC. NBC took a minority stake in 1993, and the company acquired Lifetime Networks in 2009. By 2012, Disney and Hearst had become equal partners after buying out NBCUniversal’s stake.

The financial impact for Disney is the immediate $1.2 billion in cash and the removal of a declining linear asset from its balance sheet.

While Hearst and Disney are parting ways on A+E, they remain partners elsewhere. Hearst continues to hold a roughly 18% stake in ESPN, a position that remains unaffected by this transaction.