Disney sells A+E Global Media stake to Hearst in $1 billion deal

Disney is partially getting out of the cable business it helped build, and taking a haircut to do it. The company is selling its 50% stake in A+E Global Media to Hearst , the partner that already owns the other half, in an all cash deal worth about $1 billion . Once it closes, Hearst owns the whole thing, and Disney is out. A+E Global Media is the parent of A&E , the History Channel , and...

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