AP: Vivendi reaches 'good deal' on sale of entertainment assets (to NBC)

[Atlant]

http://www.signonsandiego.com/news/business/20030902-0845-vivendi.html

Vivendi reaches 'good deal' on
sale of entertainment assets,
board member says

By Jamey Keaten
ASSOCIATED PRESS

PARIS – A Vivendi Universal director said Tuesday the board had found a "good deal" to sell the company's U.S. entertainment assets after months of negotiations, but declined to immediately provide details.

"I think we are in front of a very good deal," Vivendi board member Fernando Falco y Fernadez de Cordova said after emerging from a closed door meeting where the board weighed bids from two final suitors from General Electric Co.'s NBC division and a group led by investor Edgar J. Bronfman Jr.

<snip>

Vivendi Universal's U.S.-traded shares rose more than 7 percent early Tuesday amid speculation that the French media and utilities company was near a deal to engage in exclusive talks with NBC.

Published reports indicated that NBC had a lead in the long-running auction for the Vivendi Universal Entertainment properties, which include the Universal film and TV studios, three cable TV networks and theme parks.

<more>

[AntiCoup2K4]

1. Well, the thought of more media consolidation definitely sucks, but....

...at least this means the Carlyle Group didn't get it, which would have been even worse.

[Atlant]

3. No, GE gets it instead. Some improvement! :-( (NT)

[Commie Pinko Dirtbag]

2. NBC = Microsoft or not? Please enlighten me

Is MSNBC simply a joint venture or are the two corps merged?

[Atlant]

4. Joint venture. (NT)

[Atlant]

5. Here's an article from Le Monde re this purchase...

http://www.lemonde.fr/recherche_articleweb/1,9687,332448,00.html?query=vivendi&query2=&booleen=et&num_page=1&auteur=&dans=dansarticle&periode=30&ordre=pertinence&debutjour=&debutmois=&debutannee=&finjour=&finmois=&finannee=&G_NBARCHIVES=787+043

(I hope the URL is generally useful and not a one-shot deal.)

[mac56]

6. I can't tell from the article -

Does this include Universal Music Group, the record company?