Comcast to offload substantial stake in A&E

MUMBAI: Comcast Corp. owned NBCUniversal will sell a substantial portion of its stake in A&E Television Networks to joint venture partners, according to the company?s filing with Securities and Exchange Commission last week.

Comcast expects the deal, which is believed to be worth about $2 billion, to close in the second half of 2012. The company owns almost 15.8 percent in A&E, which it acquired through its acquisition of NBCU from GE Electric.

Earlier, NBCU had brought down its ownership from the initial 25 per cent it held as of late 2009.

A&E Networks, a joint venture of Disney-ABC Television Group, Hearst Corp and Comcast?s NBCU, comprises channels such as A&E Network, Lifetime, History, LMN, BIO, H2, Crime & Investigation Network, Military History, and Lifetime Real Women.

The Walt Disney Company along with Hearst Corporation are the majority shareholders in A&E with 42.1 per cent and 42.2 per cent stake respectively.