Comcast pulls out of Vivendi auction - Broadcasting & Cable

Comcast pulls out of Vivendi auction

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The auction of Vivendi Universal Entertainment dwindled as Comcast Corp. declared
that it will not bid for the properties.

Comcast started nosing around the U.S.
entertainment assets of Vivendi Universal three weeks ago, armed with $3 billion or so
in expected after-tax proceeds from the sale of its half of QVC Inc. to Liberty
Media Corp.

The company didn’t elaborate on its move Thursday morning, saying simply,
"Comcast does not intend to bid for the Vivendi Universal Entertainment assets."

Vivendi wants $14 billion for the studio and network operations, but remaining suitors Liberty and Edgar Bronfman Jr. are balking at that
price, while NBC is proposing more of merger than the cash purchase Vivendi
seeks.

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