Comcast To Sell A&E Stake For $3B To Disney-Hearst Duo

Law360, New York (July 10, 2012, 2:46 PM EDT) -- Comcast Corp. unit NBCUniversal Media LLC will rake in $3.03 billion through the sale of its minority interest in A&E Television Networks LLC to a joint venture between affiliates of Walt Disney Co. and Hearst Corp., a Comcast regulatory filing confirmed Tuesday.

A&E will redeem NBC's 15.8 percent stake for a cash payout that, under certain circumstances, would be supplemented with A&E-issued senior notes, the U.S. Securities and Exchange Commission filing says.

The deal follows the telecommunications giant's announcement in May that NBC would unload a...
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