Reports that A&E Television Networks (AETN) will be merging with Lifetime took on new life with word that Abbe Raven, president and CEO of AETN, is expected to lead the new company. Broadcasting & Cable is reporting that the new company, formed by Disney-ABC, Hearst Corporation and NBC Universal, will, with the combined assets of AETN and Lifetime, own 10 cable channels in 145 countries. AETN currently includes under its umbrella History, Bio and the flagship A&E channel, with Hearst and Disney-ABC owning 37.5% each, and NBC Universal owning the remaining 25%. Andrea Wong, president and chief executive for Lifetime, is expected to report to Raven, says B&C, with other management positions yet to be determined.
- Summit ’17