A merged media giant in the making.

Australasian Business Intelligence, October, 2003

Oct 08, 2003 (The Mercury - ABIX via COMTEX)

US conglomerate General Electric and French media and communications group Vivendi Universal are to merge entertainment assets in the US. The new company will be called NBC Universal, and will combine General Electric's NBC television broadcasting unit and Vivendi's 86-owned subsidiary, Vivendi Universal Entertainment (VUE). The new company will be 80 owned by General Electric and 20 by VUE shareholders. Vivendi Universal will receive $A4.8bn cash for contributing VUE to the new entity, which will also assume $A2.5bn in debt. NBC Universal's assets will include the NBC Television Network, Universal Studios, cable networks and theme parks.

Publication Date: 9 October 2003

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