Disney close to cable program deals: report
NEW YORK (Reuters) - Walt Disney Co. is close to reaching wide-ranging programming deals with the two largest U.S. cable operators that may also include the sale of its stake in the E! Entertainment channel for about $1.2 billion, the Los Angeles Times reported on Wednesday.
Citing people involved in the talks, the newspaper said Disney was near multiyear deals on the cost of providing programming to Comcast Corp and Time Warner Inc.'s cable division after years of negotiations.
The deals would include license fees Disney will charge for the popular ESPN sports channels, the report said. Talks with Comcast include a potential deal to buy Disney's 39.5 percent stake in E!, according to the report.
Comcast already pays about $1 billion to Disney annually for the basic cable channels it carries, the Los Angeles Times said.