Comcast looking to sell part of A&E ownership

NEW YORK (AP) — NBCUniversal is planning to sell part of its 15.8-percent ownership in AE Television Networks to the other partners in the joint venture, Walt Disney Co. and Hearst Co. The deal could be worth about $2 billion.

Comcast Corp., which has a controlling stake in NBCUniversal, said earlier this week, in a filing with the Securities and Exchange Commission, that it had exercised an option on March 26 requiring Disney and Hearst to buy back “a substantial portion” of its ownership in AE. Each company owns about another 42 percent of the network. Philadelphia-based Comcast said it expects the transaction to close in the second half of this year.

Comcast spokesman Charlie Douglas and Hearst spokesman Paul Luthringer declined to comment Saturday. A Disney representative wasn’t immediately available for comment.

Citi analyst Jason Bazinet estimated in a research note that NBCUniversal’s stake is worth about $2 billion and could be used to reduce the company’s debt. That could make it easier, he said, for Comcast to eventually acquire the remaining 49-percent stake in NBCUniversal held by General Electric Co.

AE includes the History Channel, Lifetime, Biography as well as its namesake network.

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