Disney is in the process of selling its 50% stake in A+E Global Media for a whopping $1 billion, according to Deadline.

Disney’s Deal

According to Deadline, the all-cash, $1 billion deal would give Disney’s 50% stake in A+E Global Media to Hearst. Per the outlet, the deal will be discussed on next week’s earnings call. Hearst currently owns the other half of the A+E Global Media stake. Disney and Hearst said last year they were both planning on selling their shares of the company.

At this time, both Disney and Hearst are also stakeholders in ESPN, with Disney as the majority shareholder with 72% and Hearst with 18%. The National Football League owns the other 10%.

A+E Global Media owns brands such as Lifetime, A&E, The History Channel, Vice TV, and more.

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