Darkbeer
09-02-2003, 12:25 PM
Vivendi, NBC Agree to Merger (http://www.amusementbusiness.com/amusementbusiness/article_display.jsp?vnu_content_id=1967488) - Amusement Business, 9/2/03
QuikQuote: Vivendi Universal and NBC, the U.S. television network unit of General Electric, have agreed to exclusive negotiations and a multi-billion deal the result of which will be a new entertainment conglomerate. The decision ends months of negotiations and speculation about the fate of Vivendi whose assets include Universal Studios and Universal theme parks and resorts.
Vivendi officials said that General Electric would own 80% of the merged company while Vivendi would hold 20%. As part of the deal, Vivendi said shareholders of Vivendi Universal Entertainment, would receive $3.8 billion of "cash consideration" against a commitment by General Electric to issue its stock as well as a $1.6 billion debt reduction. Observers say the deal could take months to finalize.
QuikQuote: Vivendi Universal and NBC, the U.S. television network unit of General Electric, have agreed to exclusive negotiations and a multi-billion deal the result of which will be a new entertainment conglomerate. The decision ends months of negotiations and speculation about the fate of Vivendi whose assets include Universal Studios and Universal theme parks and resorts.
Vivendi officials said that General Electric would own 80% of the merged company while Vivendi would hold 20%. As part of the deal, Vivendi said shareholders of Vivendi Universal Entertainment, would receive $3.8 billion of "cash consideration" against a commitment by General Electric to issue its stock as well as a $1.6 billion debt reduction. Observers say the deal could take months to finalize.