Legal Niches

Vivendi Concludes Sale of NBC Universal Holdings to General Electric

By james_fudge

Everyone is getting their little ducks in a row this week to prepare for the inevitable Comcast-NBC Universal merger. Vivendi announced today that it has sold its 20 percent stake in NBC universal for a total of $5.8 billion dollars to General Electric. The deal excludes dividends of $390 million between January 2010 and January 2011 - which was previously agreed upon before the sale of the stock in December 2009. The final stake, 12.34 percent, was sold for $3.8 billion to GE on January 25, the company said.

"We are very satisfied that our strategic objective to exit NBC Universal has been completed. We wish all parties well in their new venture," said Jean-Bernard Lévy, CEO of Vivendi. "Vivendi now has control of all its assets and is fully focused on pursuing its profitable growth strategy".

This leaves GE free and clear to do business with cable operator Comcast.

Full post as published by GamePolitics.com on January 26, 2011 (boomark / email).