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A+E Takes Full Ownership of Asian Nets - Broadcasting & Cable

A+E Takes Full Ownership of Asian Nets

Acquires stake held by Astro Overseas in the Asian joint venture
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A+E Networks has bought out the stake held in its Asian networks from joint venture partner Astro Overseas Limited to take full ownership of AETN All Asia Networks.

Terms of the deal weren't disclosed.

As a result of the transaction, the Singapore-based joint venture company formed in 2007, AETN All Asia Networks, will be rebranded as A+E Networks Asia.

The A+E Networks Asia's management team now reports to Alan Hodges, managing director, Asia-Pacific for A+E Networks.

A+E Networks Asia's portfolio of channel brands will continue to have carriage in Malaysia and Brunei through agreements with Astro Malaysia, which is an affiliate of Astro Overseas.

"The transition to full ownership of A+E Networks Asia is a first for our company and marks an important milestone," said Nancy Dubuc, president and CEO, A+E Networks, in a statement announcing the deal. "A+E Networks is committed to continued international expansion for our brands and business, and we are bullish on the growth opportunities not just in Asia, but Europe and the Americas as well."

The agreement is part of the company's ongoing international expansion and comes on the heels of the June 14th launch of Lifetime and H2 in the region.

A+E Networks Asia also operates History, Crime & Investigation Network and bio in the region.

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