Disney sells A+E stake to Hearst in $1B all-cash deal

Disney is selling its 50% stake in A+E Global Media to Hearst Communications, its longtime joint-venture partner, in an all-cash deal believed to be worth north of $1 billion. The transaction is being finalised and is expected to be revealed at Disney's earnings call in August 2026.

A+E Global Media is a 50-50 venture that owns cable networks A&E, History, Lifetime, and FYI, plus A+E Studios. Hearst already owns half and is believed to hold a significant war chest to acquire the rest.

The two companies retained Wells Fargo in mid-2025 to explore a sale. Hearst emerged as the most likely buyer, ahead of rumoured suitors including Starz , Roku , and private equity firms.

The sale is the media conglomerate's first major step in reducing its traditional TV footprint. It began under former chief executive officer Bob Iger and was completed under successor Josh D'Amaro. A+E president and chairman Paul Buccieri is poised to continue leading the company.

A+E has been hit by the same linear viewership declines affecting the wider cable ecosystem, shrinking its contribution to Disney's bottom line. It remains profitable with no debt, helped by an early adoption of the FAST channel model and a large owned content library — A+E Studios is behind Netflix 's The Lincoln Lawyer .

Disney chief financial officer Hugh Johnston reaffirmed in May 2026 that the company does not plan to spin off or sell linear TV networks. Iger said in 2023 that linear networks "may not be core" assets, then walked the comment back, calling it a public "test" of strategic thinking.

Though A+E was a separate, privately held joint venture, its sale will likely reopen debate over the future of Disney's linear assets, including ABC, FX, National Geographic, and Freeform. Disney and Hearst also jointly own ESPN, where Disney holds a 72% majority to Hearst's 18%.