Disney is reportedly finalising the sale of its 50% stake in A+E Global Media to its joint-venture partner Hearst Communications for more than $1 billion in cash. The transaction would give Hearst full ownership of the cable-network group and mark Disney’s first major move to reduce its exposure to traditional linear television, despite recent assurances that it did not plan to sell or spin off such networks.

A+E Global Media owns A&E, History, Lifetime, FYI and A+E Studios, and has been jointly owned by Disney and Hearst on a 50-50 basis. Paul Buccieri is expected to remain president and chairman after the deal, while the profitable, debt-free company’s value is supported by its content library, studio business and early adoption of free ad-supported streaming channels; however, its contribution to Disney has declined alongside wider cable-viewing falls.