A&E, Lifetime A&E, Lifetime

A&E Television Networks has officially acquired Lifetime Entertainment Services, but neither network's coverage will be affected, they announced Thursday.

A&E Television Networks is a partnership between Disney/ABC, Hearst Corp. and NBC Universal. The acquisition gives NBC Universal a stake in Lifetime, which was previously a 50-50 partnership between ABC/Disney and Hearst. The merger was first reported earlier in the summer.

A&E will remain the parent company of the combined entity, and Abbe Raven will continue to serve as president and CEO. As a subsidiary, Lifetime will retain its name.

The deal consolidates cable networks such as A&E Network, History, Lifetime Television, Lifetime Movie Network, Bio, History International, Lifetime Real Women, History en Español, Military History and Crime & Investigation Network all under the A&E Television flag.

The transaction is expected to close later this year.