In August 2009, A&E Networks acquired Lifetime Entertainment Services, which at the time was jointly owned by Disney and Hearst, each with 50% ownership. Following the deal, Disney and Hearst each held approximately 42% of the combined company, while NBC Universal retained approximately 16%. The deal included mechanisms by which NBCU could choose, or alternatively be forced to, exit the partnership over the subsequent 15 years. In May 2011, A&E Television Networks changed its brand name to A+E Networks. A&E dropped TV as their brands had moved beyond just the TV channel while keeping Networks being contemporary to similar companies.