Hearst to acquire Disney stake in A+E Global Media

Following completion of the deal, A+E Global Media will become a wholly owned Hearst business within the company's Entertainment group

Hearst has agreed to acquire The Walt Disney Company's 50 percent interest in A+E Global Media for approximately $1.2 billion in cash. The transaction is expected to close in September, subject to customary closing conditions.

Following completion of the deal, A+E Global Media will become a wholly owned Hearst business within the company's Entertainment group, ending the long-standing joint ownership between Hearst and Disney.

Hearst takes full ownership of A+E

Steven R. Swartz, President and Chief Executive Officer, Hearst: "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."

Paul Buccieri, President and Chairman, A+E Global Media: "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. I also want to express my deepest thanks to Hearst, The Walt Disney Company and to our board members — both recent and past — for their guidance and support over the years."

A+E reaches audiences in 200 territories

Originally launched as A&E (Arts & Entertainment Network) in 1984, A+E Global Media reaches more than 414 million households across 200 territories in 40 languages. Its portfolio includes the A&E, Lifetime, HISTORY, LMN, FYI and VICE TV brands.

www.hearst.com

www.aegm.com

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