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Gov't clears Comcast's $3B-plus sale of A&E stake

Gov't clears Comcast's $3B-plus sale of A&E stake

July 31st, 2012 in News

WASHINGTON (AP) - U.S. antitrust authorities have cleared Comcast Corp.'s more than $3 billion sale of its 15.8 percent stake in A&E Television Networks to The Walt Disney Co. and Hearst Communications Inc.

The Federal Trade Commission said Monday that an early end to its 30-day review period for the deal was granted on Friday.

The A&E networks contain History Channel, Lifetime, Biography as well as its namesake network.

Comcast said in May that it exercised the option requiring Disney and Hearst to buy back its stake.

Comcast will receive about $1.95 billion in cash and a note from A&E for $1.072 billion.