The transaction is expected to close on February 1 following an agreement, terms of which were not disclosed, was struck between Hearst Television and Litton.
Hearst has a range of media assets, including an ownership stake in A+E Networks, 30 TV stations in the US, magazines including Cosmopolitan and Elle, and investments in BuzzFeed, Vice Media and AwesomenessTV.
Litton produces programming such as ABC’s Litton’s Weekend Adventure block, CBS’s CBS Dream Team: It’s Epic!, and CW’s One Magnificent Morning through its Litton Studios division.
Dave Morgan founded Charleston-based Litton in 1988, and remains president and CEO. Before that, he held an executive management role at Hearst Radio.
“We’ve known Dave since the early days of his career with Hearst and have admired the first-class brand of Litton Entertainment that he and his team have built over the years,” said Hearst TV president Jordan Wertlieb.
“Providing quality, family-friendly programming to viewers is an important tenet of Hearst Television, and adding Litton’s assets and expertise to our company through this partnership will be a terrific complement to our businesses.”
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