Walt Disney is selling its 50% stake in A+E Global Media to Hearst for approximately $1.2 billion. This transaction will grant Hearst complete ownership of well-known brands including Lifetime and The History Channel.

Hearst announced on Tuesday that the deal is anticipated to finalize in September, contingent upon standard closing conditions. Disney, which has held an equity investment in A+E Global Media for years, is set to report its third-quarter earnings on Wednesday.

Beyond A&E, Lifetime, and The History Channel, A+E Global Media's portfolio also encompasses LMN, FYI, and Vice TV. The combined entity boasts a reach of over 414 million households globally.