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Wednesday, November 18, 2009
GE, Vivendi Still Mulling Over NBC Universal
By Matt Egan
FOXBusiness
General Electric (GE) and Vivendi (VIVDY) are still working out terms to hand over control of NBC Universal, with the French media company asking for a higher price and deal protections, The Wall Street Journal reported.
The GE-Vivendi talks are seen as the last remaining stumbling block before GE can ink a deal that would give cable giant Comcast (CMCSA) a majority stake in a joint venture housing NBC Universal, which includes USA Networks, CNBC and Universal Studios.
Due to potential regulatory hurdles facing the joint venture, Vivendi has asked for GE to buy out at least part of its 20% stake in NBCU before a Comcast deal would likely close, the Journal reported. At the same time, Vivendi has asked for GE to up its price for the stake due in part to the weakening U.S. dollar, the paper reported.
Despite the differences, two people familiar with the talks told the Journal it was “likely” the differences will be resolved and a sale will proceed.
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