Vivendi Exits NBCU
$5.8 billion deal clears path for Comcast JV closing
By Mike Farrell, Multichannel News -- Broadcasting & Cable, 1/26/2011 4:26:05 PM
GE had agreed to buy out Vivendi in November 2009, which led to its announcement one month later creating the NBCU joint venture with Comcast. Vivendi sold a 7.7% interest in NBCU to GE in September.
Vivendi, formerly Vivendi Universal, had sold its Universal Studios and cable channels to NBC in 2004 for $14 billion which created NBCU, but retained a 20% interest in the venture. It was Vivendi's desire to divest of that stake in 2009 that sparked speculation that GE would either sell the unit or seek a partner.
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