Deadline reports that A&E Global Media is investigating a possible sale. Wells Fargo has been contacted and will explore all options for the joint venture between Disney and Hearst. A&E Global Media is the parent company of several networks, including A&E, History, and Lifetime. A sale is not guaranteed, as A&E Global Media is seeking favorable terms.

According to Deadline, sales of longstanding cable networks have become a trend among media companies, as cable has been experiencing recent declines in both ad sales and viewership. Comcast has initiated a spin-off of NBCUniversal cable assets, packaged as a company named Versant. In June, Warner Bros. Discovery also indicated that it is planning to separate its longstanding cable assets from its studio and streaming portfolio. Sports have remained steady, with Disney continuing to invest in ESPN as a cornerstone of their sports segment.

Via Deadline, Bob Iger was ahead of the curve, being one of the first to propose selling off TV assets, but eventually backed off when executives implied potential synergies with their streaming platforms.  A&E Global Media is a significant investment for Disney, qualifying as the “third tier” of their linear television business. Disney’s other linear assets include Disney Channel, Freeform, and National Geographic.

Deadline reports that A&E Network’s niche sits within reality and original documentaries. History specializes in unscripted series and event-based programming. Lifetime caters to female audiences. While all three had around 58 million domestic subscribers as of 2024, this is millions below their peaks in the 2010s. COVID provided a catalyst for an even sharper decline in linear TV.

According to Deadline, Disney has seen a stark decline in income generated from investees, down to $207 million from $575 million in the prior period. Volume is key to linear networks staying afloat, as they can continue to make significant income due to the sheer amount of content.  CEOs have said that we could see a conglomeration of cable TV networks in order to help mitigate the fall. A source familiar with A&E’s financials told Deadline that their leverage has remained low.

Deadline reports Versant is expected to find a new home by the end of 2025. Its package will include MSNBC, CNBC, USA Network, Oxygen, E!, Syfy, and Golf Channel. Bravo, along with NBC, Telemundo, and local stations, will remain with NBCU.

Via Deadline, Future Versant CEO Mark Lazarus said, “As a standalone company with these outstanding assets, we will be better positioned to serve our audiences and drive shareholder returns in this incredibly dynamic media environment across news, sports, and entertainment,” regarding the potential spin-off.

According to Deadline, Warner Bros. Discovery has already begun operating internally as two distinct businesses, with mid-2026 set as the target date for a formal division. CFO Gunnar Wiedenfels will take the helm of WBD Global Networks, a new entity that includes CNN, TNT Sports U.S., and Discovery. Current CEO David Zaslav will remain in charge of Warner Bro. Discovery.