Comcast Pursues Disney's E! Stake
Cable TV Giant Is in Talks
For 40% Share Amid Push
To Expand Stable of Networks
Comcast Corp., which owns a controlling interest in the gossipy Hollywood cable network E! Entertainment Television, is in talks to buy the 40% stake it doesn't own from Walt Disney Co., according to people familiar with the matter.
The move is part of a broader effort by Comcast, the largest distributor of cable TV in the U.S., to beef up its collection of cable networks.
The price Comcast would pay Disney for its stake in E! wasn't disclosed. Analysts estimate E! is valued at $2.5 billion to $3 billion. The talks were reported in Broadcasting & Cable, a trade publication.
Comcast and Disney have been talking for more than six months about unwinding their E! partnership, according to people familiar with the matter. The talks are part of broader discussions between the companies over such things as how much Comcast should pay for Disney networks like ESPN and how much content Disney will make available to Comcast's video-on-demand service. No resolution is expected for a number of weeks, people familiar with the matter said.
E! Entertainment Television is comprised of two cable channels: E!, which is devoted to celebrity news and gossip as well as reality shows; and Style Network, a fashion channel.
Of the two channels, E! is stronger, reaching 86 million homes; Style reaches about 40 million homes. Currently run by former ABC Entertainment chief Ted Harbert, E! has managed to grow over the past year. Its prime-time audience has grown by 15% to 435,000 viewers, according to Nielsen Media Research, and the channel has added almost 50% in its key demographic of women ages 18 to 49.
Comcast took over the running of E! in 1997 when it bought control from Time Warner Inc. and brought in Disney as a minority partner.
Under terms of the 1997 deal, Disney can trigger a sale of its interest in E! to Comcast at a "fair market value" determined by an appraisal process, according to Comcast's most recent annual report. If Comcast declines to purchase within a specified period, Disney has the right to buy out Comcast's stake.
Comcast is interested in buying because it has been trying to add to its stable of networks. Comcast also owns Outdoor Life, the Golf Channel, several regional sports networks and G4, which mostly focuses on videogames.
E!'s shows include "The E! True Hollywood Story," which profiles entertainment stars, and "101 Incredible Celebrity Slimdowns."
康卡斯特就收购E!其余股权进行谈判
知情人士透露，拥有好莱坞有线电视网络E! Entertainment Television控股权益的康卡斯特(Comcast Corp.)正就从沃尔特-迪斯尼公司(Walt Disney Co.)手中收购E!其余40%股权进行谈判。
身为美国最大的有线电视经销商，康卡斯特为进一步揽聚有线电视网络展开了更广泛的努力，此谈判即是其中的一部分。
康卡斯特没有透露可能为这40%股权向沃尔特-迪斯尼支付的金额，分析师们对E!的估值为20亿-30亿美元。
知情人士透露，康卡斯特和沃尔特-迪斯尼已经就解除双方在E!的合作关系进行了超过六个月的谈判。不仅如此，两家公司还在就其他一些合作相关事宜进行磋商，例如，康卡斯特应该为使用沃尔特-迪斯尼麾下ESPN等网络支付多少费用，以及沃尔特-迪斯尼将为康卡斯特视频点播服务提供多少内容等等。
知情人士称，预计未来数周内谈判都不会出结果。
E! Entertainment Television由两大有线电视频道组成：播放名人轶事、娱乐新闻和真人秀等节目的E!，以及时尚频道Style Network。
