The parent company of A&E Network, History and Lifetime is joining the growing list of cable channels that are being sold or divested by their studio parent company. NBCUniversal is preparing to divest MSNBC, CNBC, USA Network and four more linear channels. Warner Bros. Discovery also plans a similar separation from a clutch of linear cable assets: CNN, TNT, TBS, Discovery, Food Network, HGTV, TruTV and more.
A+E Global Media (which was formerly known as A+E Networks) is owned as a 50-50 joint venture by the Walt Disney Co. and Hearst. Disney and Hearst recently tapped the investment banking arm of Wells Fargo to handle a sale process.
Sources stressed that there’s no certainty that A+E Global Media will be sold entirely or in part. But with the market conditions that have developed in recent months, Disney and Hearst are motivated to see who may come after A+E’s lifestyle and unscripted outlets. The list of linear channels includes Lifetime Movie Network, FYI and Vice TV. The assets also encompass content units A+E Studios, A+E Factual Studio, A&E IndieFilms, A+E Global Media Digital as well as streaming apps, games, FAST channels, AVOD and subscription-video services Crime 360, Lifetime Movie Club and History Vault.
A+E Global Media is a rare example of a sizable media company that is privately held. The company does not disclose its financial results.
Representatives for A+E, Disney, Hearst and Wells Fargo declined to comment for this story.
The move to nail up a “for sale” sign on A+E’s properties comes as NBCU and WBD are looking to slim down their asset bases and balance sheets by spinning off collections of cable channels that were once marquee properties. But even established traditional cable channels are struggling amid cord-cutting and the rise of streaming.
NBCUniversal is keeping only Bravo out of its eight linear cable channels to help fuel Peacock. WBD will be a significantly smaller company once it is built around the Warner Bros. movie and TV studios, HBO and streamer HBO Max, and gaming division. In announcing plans for a complicated restructuring to separate WBD into two entities – one for Global Networks, the other for Studios and Streaming — WBD nodded to the potential for the channels to be scooped up in a cable rollup. Post-split, both sides of WBD will be better equipped “to be faster and more aggressive in pursuing opportunities that strengthen their competitive positions,” WBD said in its June 9 news release.
A+E Global Media’s well-known brands could be an attractive dance partner for the either the WBD Global Networks divestment or for Versant, the new corporate moniker for NBCU’s spun-off cable channels. The Versant transaction is expected to be done by year’s end. WBD projected a mid-2026 closing for its separation. A+E brands have the benefit of owning outright the bulk of their studio libraries over three and four decades.
Disney has been an outlier among its traditional studio peers. Mouse House leaders in recent months have articulated that the company has found a good rhythm in using linear TV assets to drive content to Disney+ and Hulu. CEO Bob Iger last month said ESPN, ABC, Freeform and Disney’s eight owned-and-operated ABC stations are engines for the company’s expansive streaming platforms.
A+E Global Media channels have never been woven into Disney’s larger channel group, even has Disney has built out its streaming offerings. There’s been speculation for some time that the A+E channels would be part of a sales process. Disney and Hearst both have significant wholly owned linear TV assets that are not connected to the focused sale effort around A+E Networks.
A&E Network, Lifetime and History have bucked the general trend of slashed programming budgets for other cable outlets facing steady audience erosion. Lifetime in recent years as doubled down on its volume of original telefilms. History has upped the production value and promotion around its marquee documentaries and series.
Under president Paul Buccieri, A+E has made the most of its deep library by establishing FAST channels and licensing programs around the world. Buccieri, a seasoned producer and programming executive, joined A+E in 2015 as president of A&E Network and History. He was upped to president of A+E Networks Group in 2018.
The company has its roots in the fertile ground of early 1980s cable in New York. A&E Network and Lifetime were launched in early 1984 at a time when the overall cable channel lineup was still pretty thin. History Channel followed in 1995. All three channels have yielded numerous spinoffs over the years.
For its first 20 years, A&E Networks was jointly owned by ABC, NBC and Hearst. When Comcast acquired NBCUniversal from General Electric in 2011, the cable giant had to sell off its stake in A&E Networks to comply with federal merger conditions.
