Disney is selling its 50% stake in A+E Global Media to Hearst, its joint-venture partner of more than a decade, in a transaction valued at over $1 billion, Variety reported, citing a source familiar with the plans. The sale gives Hearst full ownership of the cable programmer. It is expected to be finalized the week of August 3 and announced alongside Disney's quarterly earnings on August 5.
A+E Global Media, formerly A+E Networks, owns A&E Network, History, Lifetime, Lifetime Movie Network, FYI and Vice TV. Its portfolio also includes the content units A+E Studios, A+E Factual Studio, A&E IndieFilms and A+E Global Media Digital, plus subscription streaming services Lifetime Movie Club, Crime 360 and History Vault.
Carrying value and the impairment charge
In its 10-Q filing with the SEC for the March 2026 quarter, Disney valued its A+E investment at a carrying value of approximately $2 billion. In that same quarter it took a $147 million charge for an impairment of the investment. LightShed Partners analyst Rich Greenfield, who first flagged the deal, wrote that he expected an all-cash transaction "at a low single-digit EBITDA multiple."
Disney and Hearst retained Wells Fargo in 2025 to explore a potential sale. Deadline reports that Starz, Roku and private-equity firms were rumored to be kicking the tires early on before Hearst emerged as the most likely buyer months ago.
A change of regime at Disney
The sale process began under Bob Iger and was completed under his successor as Disney CEO, Josh D'Amaro, according to Deadline, which calls it the company's first major step in reducing its traditional TV footprint.
Iger said in 2023 that linear networks "may not be core" assets, then walked the comment back, describing it as a public test of strategic thinking. But the stated position has not changed: Disney CFO Hugh Johnston reaffirmed on the May earnings call that the company does not plan to spin off or sell its linear TV networks. Questions about the long-term future of Disney-owned ABC, ESPN and cable networks including National Geographic, FX and Freeform have persisted throughout.
A+E was always a separate conversation, because it was a privately held 50-50 joint venture rather than a wholly owned asset. Deadline expects its sale to restart the broader discussion about Disney's linear TV future.
What Hearst is accumulating
Hearst already owned half of A+E and, per Deadline, was believed to have a significant war chest to buy the rest.
The two companies remain partners elsewhere. Deadline notes Disney and Hearst are joint stakeholders in ESPN, with Disney the majority owner at 72% and Hearst holding 18%. The NFL agreed in 2025 to take up to a 10% ESPN stake in exchange for media assets.
A+E Global Media president and chairman Paul Buccieri will continue to run the company after Disney exits, reporting to Hearst CEO Steve Swartz.
The deal follows a run of consolidation among legacy media owners. In June, Penske Media acquired Vox Media to become the largest digital publisher. Disney's own growth ran the other way, through the acquisition strategy that built the company.
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