AE Television to acquire Lifetime
LOS ANGELES (AP) — AE Television Networks says it is acquiring Lifetime Entertainment Services, bringing the home of Project Runway into a stable of channels that includes AE and the History channel.
Terms of the deal, which is expected to be completed by the end of the year, were not disclosed.
AE Television Networks is a joint venture between The Walt Disney Co., Hearst Corp. and General Electric Co.'s NBC Universal. Lifetime is already owned 50-50 by Disney and Hearst.
Under the terms of the deal, NBC Universal may elect or be required to exit the venture within 15 years, which would make Disney and Hearst 50-50 partners in the larger group.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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