Comcast Corp. Nears Deal To Sell Stake In A&E Television Networks To The Walt Disney Company And Hearst Corp-WSJ

The Wall Street Journal reported that Comcast Corp. is near a deal to sell its 15.8% stake in A&E Television Networks to joint venture partners The Walt Disney Company and Hearst Corp for about $3 billion, according to two people familiar with the matter. Comcast said in May it exercised an option to sell the stake, but at that time it didn't indicate a price. One analyst had said the price could be about $2 billion. Disney currently owns 42.1% of A&E, while Hearst has a 42.2% stake. After the deal, each of the two companies will own 50% of A&E.