History channel owner A+E Global Media explores sale

A+E Global Media, a joint initiative by Disney (NYSE:DIS) and Hearst Communications, is exploring a sale, and the television network holding company has tapped Wells Fargo to help with the transaction, according to several media reports from Tuesday citing sources.

Talks are ongoing, and a sale might not materialize if terms and conditions are not favorable, according to the sources.

The move by the company, which owns A&E, History, Lifetime, and Vice TV, among other notable channels, comes amid the rise of streaming platforms, while linear television and cable viewership dwindles in the U.S.

Top media companies are also separating their streaming assets from traditional TV properties to unlock maximum shareholder value.

In June, Warner Bros. Discovery (WBD) announced it will split into two companies—one focused on streaming and the other focused on its networks. In November, Comcast (CMCSA) said it will pursue a tax-free spinoff of NBCUniversal’s portfolio of TV channels and list them as a separate public company, which will be called Versant.