NBCU to Sell Off A&E Television Networks Shares

UNIVERSAL CITY: NBCUniversal has exercised an option to sell part of its 15.8-percent ownership in A&E Television Networks to joint-venture partners Disney-ABC Television Group and Hearst Corporation.

According to a filing with the Securities and Exchange Commission, Comcast Corporation’s NBCUniversal has exercised an option whereby A&E Television Networks has to redeem a substantial portion of NBCU’s equity interest in the company. The valuation of the interest to be redeemed will be reached upon mutual agreement between the parties involved. Comcast currently owns a 15.8-percent share, which it acquired through its acquisition of NBCU from GE Electric. The majority shareholders of A&E Television Networks are The Walt Disney Company (42.1 percent) and Hearst (42.2 percent).

The transaction is expected to close some time in the second half of this year.