Disney is shedding a linear asset, selling its 50% stake in A+E Global Media, Deadline has confirmed. The deal, believed to worth north of a $1 billion and all-cash, is being finalized and is expected to be revealed at Disney’s earnings call next week. Word of the pending announcement was tweeted by analyst Rich Greenfield Thursday.

A+E Global Media’s President & Chairman Paul Buccieri is poised to continue to lead the company following the transaction, I hear.

Deadline has reached out to Disney, Hearts and A+E for comment.

A+E Global Media, parent of long-established cable networks A&E, the History and Lifetime suite of channels and FYI, as well as A+E Studios, is a 50-50 venture between Disney and Hearst Communications. The two companies a year ago retained Wells Fargo to explore a potential sale.

While companies such as Starz and Roku, along with private equity firms, were rumored to be kicking the tires early on, Hearst ultimately emerged as the most likely buyer months ago. The media company already owns half and is believed to have a significant war chest to acquire the rest.

The sale process started under the previous Disney regime of CEO Bob Iger but was completed under his successor, Josh D’Amaro. It is media conglom’s first major step in reducing its traditional TV footprint.

Disney CFO Hugh Johnston on the most recent earnings call in May reaffirmed the company’s position that it does not plan to spin off or sell linear TV networks.

D’Amaro’s predecessor Iger in 2023 made waves when he said linear networks “may not be core” assets, though he later walked back the comments, calling them a public “test” of strategic thinking.

Still, questions about the long-term future of Disney-owned ABC, ESPN and cable network such as National Geographic, FX and Freeform have remained. (Disney and Hearst also are joint stakeholders of ESPN, with Disney a majority owner at 72% and Hearst at 18%.)

While A+E Global Media has been a separate conversation as it was a privately held 50-50 joint venture, its sale will likely restart the linear TV future of Disney discussion.

Impacted by the same linear viewership declines as the rest of of the cable ecosystem, A+E Global is not the cash cow it once was in terms of its revenue contribution to Disney’s bottom line — as revealed in Disney’s annual reports — which is likely why the company is offloading it.

For the moment, A+E Global is still very profitable and has no debt. The company’s financial health is attributed in large part to moves by Buccieri, including an early adoption of the FAST channel model.

Additionally, the A&E Networks own a large portion of their content, a rarity in cable. That makes for a valuable library that goes with the channels. The company’s A+E Studios is behind such series as Netflix’s The Lincoln Lawyer.

The company also has stakes in numerous ventures, including Propagate, Range Media Partners and Vice Media.

Get our Breaking News Alerts and Keep your inbox happy.

Comments On Deadline Hollywood are monitored. So don't go off topic, don't impersonate anyone, and don't get your facts wrong.

Δdocument.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );