A&E Television Networks to Acquire Lifetime Entertainment Services
The deal puts networks under single management, maintains individual channels.
Aug. 27, 2009— -- A&E Television Networks -- a joint venture between the Disney-ABC Television Group, Hearst Corp. and NBC Universal -- announced today that it has an agreement to acquire Lifetime Entertainment Services.
The combined company will now put several well-known cable networks under one management team while maintaining each channel's individual brand identity.
The parent company will retain the A&E Television Networks name and will include the following channels: A&E Network, History, Lifetime Television, Lifetime Movie Network, Bio, History International, Lifetime Real Women, History en Español, Military History and Crime & Investigation Network.
Abbe Raven, president and chief executive officer of A&E, will serve as head of the combined company following the closing.
"Consolidating these networks puts a powerful portfolio of distinct brands under the strategic vision of one of the industry's most innovative and effective leaders," Anne Sweeney, co-chairman of Disney Media Networks, and president of the Disney/ABC Television Group said in a statement. "The new company will be much greater than the sum of its parts, positioning these brands for a new level of success and performance."
Disney-ABC , NBC Universal and Hearst said the new company "will be well positioned" for expansion opportunities and cross-promotion by combining the resources, libraries and multiple platforms of 10 brands, including more than 20 Web sites.
