Vivendi-GE Sign to Create NBC Universal

[dutchdemocrat]

Vivendi-GE Sign to Create NBC Universal
Reuters | October 8, 2003


Posted on 10/08/2003 2:37 AM PDT by HAL9000



PARIS (Reuters) - French media firm Vivendi Universal and U.S. conglomerate General Electric said on Wednesday they had signed a final deal to combine GE's NBC television unit with Vivendi's Universal Studios and cable channels, creating a $43 billion entertainment powerhouse.
Under a deal whose broad outlines were unveiled last month, shareholders in Vivendi Universal Entertainment will receive $3.8 billion in cash, with $3.3 billion of that going directly to Vivendi Universal.

As part of the agreement, GE intends to issue common stock at or before the closing to fund the cash portion of the deal. NBC Universal will assume about 1.7 billion euros of debt.

The new company, to be called NBC Universal, will compete with entertainment giants such as Walt Disney Co. and Viacom Inc..

From 2006, Vivendi Universal will have the option of selling or otherwise monetizing its ownership at fair market value. The companies said they had identified $400 million to $500 million in potential synergies.



http://www.washingtonpost.com/wp-dyn/articles/A61029-2003Oct8.html

[dbt]

1. Hooray! More Liberal Media!

NOT.

:argh:
dbt

[mac56]

2. Does this include the music division?

UMG - Universal Music Group?

[dutchdemocrat]

4. I am not sure

Don't know offhand... that would take a little research

[nini]

8. I don't think so

Vivendi wanted to keep that...

[mac56]

9. I think that's wise.

GE got out of the music business. After acquiring RCA, they sold RCA Victor to BMG before they ran it into the ground. They should stay out.

[FauxNewsBlues]

3. The media wasn't too consolidated

Obviously, this is just a right step in creating a lack of pesky diversity. Perhaps they should merge with Clear channel. Get some real synergy going there.

[dutchdemocrat]

5. Why not just mesh

With Murdoch as well. NWO.

[bspence]

6. Didn't Al Gore

look into buying Vivendi for his liberal network? Just wondering.

[zls44]

7. Universal, eh?

Universal...did they release Arnie's films?

And does his senile wife not work for NBC?


Hmmm...

[nini]

11. yes, but.....

the CEO of the movie division was one of those listed on that full page Variety ad against arnold


Makes you wonder what he knows about him eh?

[jobycom]

10. That was my first reaction. Apparently he's buying a division

From another post last week:

"TORONTO - Newsworld International – started by CBC in 1994 and currently owned by Vivendi Universal – could wind up in the hands of investors led by former U.S. vice president Al Gore.


The Wall Street Journal reported Wednesday that Gore's group is in talks to buy NWI for about $70 million US.

Vivendi recently sold its entertainment assets to General Electric's NBC division, but left NWI out of the deal."

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=109&topic_id=1880

[Unknown Known]

12. Vivendi was in talks with Carlyle earlier this year

But I guess the French company didn't like being called "surrender monkeys" anymore. BWAHAHAHAHAHAHHA:bounce: