The Associated Press
LOS ANGELES (AP) - A&E Television Networks says it is acquiring Lifetime Entertainment Services, bringing the home of "Project Runway" into a stable of channels that includes A&E and the History channel.
Terms of the deal, which is expected to be completed by the end of the year, were not disclosed.
A&E Television Networks is a joint venture between The Walt Disney Co., Hearst Corp. and General Electric Co.'s NBC Universal. Lifetime is already owned 50-50 by Disney and Hearst.
Under the terms of the deal, NBC Universal may elect or be required to exit the venture within 15 years, which would make Disney and Hearst 50-50 partners in the larger group.