Comcast gets $3bn for A & E sale

Cable giant Comcast is selling its 15.8 per cent stake in A & E for about $3.03 billion. Its joint-venture partners in A&E, Walt Disney Co and Hearst Corp, will buy the stake.

A&E is home to channels such as the History Channel, Biography and Lifetime.

It is expected that Comcast will use the cash to help it fund the purchase of the 49 per cent of NBC-Universal which it has an option to do before 2014.

However, the sale puts an impressive value of around $20 billion for A&E itself.

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