US regulators clear NBC-Vivendi Entertainment deal

0 Comments | AFP, April, 2004

WASHINGTON (AFP) — The mega-deal to merge the entertainment unit of France's Vivendi Universal with General Electric's NBC won approval from the US Federal Trade Commission, an agency spokesman said.

"The FTC has closed its entire investigation and has concluded that the companies can now proceed their transaction," said FTC spokesman Mitch Katz.

The approval clears US regulatory hurdles to the deal to create a media-entertainment powerhouse.

The merger plan announced September 2 would merge Vivendi Universal Entertainment, the troubled unit of French-based Vivendi, with the NBC unit of General Electric in a new company owned 80 percent by the US group and 20 percent by Vivendi.

NBC Universal -- with assets ranging from the NBC US television network...