Comcast buys Disney's stake in E! Networks for $1.23 bln
Full Story: Comcast buys Disney's stake in E! Networks for $1.23 blnBy Ana Campoy
Last Update: 5:24 PM ET Nov 21, 2006
SAN FRANCISCO (MarketWatch) -- Comcast Corp. and Walt Disney Co. late Tuesday said Comcast has acquired Disney's 39.5% ownership stake in E! Networks for $1.23 billion and now fully owns the entertainment news network. The two companies also said they have signed long-term distribution agreements that will extend their relationship for the 10 ABC-owned broadcast television stations and other Disney networks. Additionally, the companies formalized their ESPN2 HD agreement and said Comcast will launch ESPN Deportes, a stand-alone Spanish-language sports network. Comcast and Disney have also agreed to add primetime television programs, cable network shows and Disney movies to Comcast's On Demand service.
Walt Disney Company Press Release (via MarketWatch)