It’s official: AETN acquires Lifetime Entertainment

The Disney-ABC Television Group, Hearst Corporation and NBC Universal have announced that A&E Television Networks will acquire Lifetime Entertainment Services, which is jointly owned by Disney and Hearst. Abbe Raven, the current president and CEO of AETN, will become the head of the merged company, while Andrea Wong, the president and CEO of Lifetime Entertainment Services, will report to Raven. Both the parent and subsidiary companies will retain their names. AETN now has under its umbrella: A&E Network, History, Lifetime Television, Lifetime Movie Network, Bio, History International, Lifetime Real Women, History en Español, Military History and Crime & Investigation Network. The agreement also leaves a window open for NBCU to exit AETN, either by choice or as required by the other two companies, some time within the next 15 years, leaving Disney and Hearst as 50-50 owners of AETN.