Disney-ABC TV, Hearst and NBC Universal finalized their already announced joint venture ownership of A&E Networks, which now officially incorporates Lifetime's femme-focused assets.
A&E CEO Abbe Raven addressed the staff today in a video and discussed the new entity which counts NBC Universal as a 15% stakeholder while Disney-ABC and Hearst hold the balance.
The move paves the way for decisions to be made on staffing needs since many back room positions are expected to be eliminated.
Read more at B&C here.
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