That's entertainment; Vivendi.(An auction for media moguls)

Economist (US), The, July, 2003

Diller rides again

Vivendi's auction of its American assets has more twists than a soap opera

THE clearest winner so far in Vivendi's auction of its American entertainment assets is Vivendi itself. Thanks to frequent leaks about the various media groups in the bidding, the troubled French conglomerate has created a masterful impression of fevered competition for its film studio, theme-park business and cable-TV channels. At a gathering of media moguls in Sun Valley, Idaho, last week, all the talk was of who will win. There are five known contenders: Metro-Goldwyn Mayer (MGM); Liberty Media; NBC; Viacom; and Edgar Bronfman, a former boss of Seagram. Vivendi, which is trying to reduce its debts, will unveil a buyer in September.

This week, MGM...