Vivendi and NBC in ‘exclusive talks’

3 Sep 2003

The broadcasting arm of General Electric, NBC, has entered into exclusive talks with Vivendi Universal to create a new US media venture valued at around USD40 billion. Under the NBC proposal Vivendi will receive USD3.8 billion in cash on completion of the deal and retain a 20% stake in the enlarged group. The two companies claim a final deal, which is still dependent on due diligence and the completion of contracts, could be signed by the end of the month.