
You may remember that Bravo, owned by NBC Universal, lost a bidding and legal war with Lifetime over Project Runway, which has finally started airing.
Well, today A&E Networks acquired Lifetime Entertainment.
Ok, ready for some complicated legal maneuvering?
Lifetime Entertainment was owned 50/50 by Disney and Hearst Group.
A&E is a joint venture between... Disney, Hearst Group, and NBC Universal (with NBC having a smaller share then the other two, just 25%).
So after all that legal hoohar, NBC still gets a share of Project Runway. At least for now. The deal's terms "include a mechanism under which NBC Universal may either chose or be required to sell its interest to the other two partners some time within the next 15 years." (NYTimes article)
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