NBC has officially sold off its 15.8% of A&E Networks — which also includes Lifetime and the History Channel — to Disney and Hearst Corporation.
The transaction cost the buyers $3.03 billion to gain 50-50 control of the television channels, while the sale allows NBC Universal's 51% holder, Comcast, to save up to buy the rest of entertainment company from General Electric.
What does this mean for U?
Not much. We're sure all your favorite programming will continue to air as usual until the ratings start to slide.
U can stop panicking now!
Tags: a and e, abc, cable, channel, comcast, corporation, disney, general electric, hearst, history channel, lifetime, nbc, network, sale, television