Vivendi Universal-NBC merger goes through

12th May 2004, Comments 0 comments

PARIS, May 12 (AFP) - The merger of NBC and Vivendi Universal Entertainment was finalised Wednesday, creating a new media giant, NBC Universal, its parent companies General Electric and Vivendi Universal said in a joint statement.

PARIS, May 12 (AFP) - The merger of NBC and Vivendi Universal Entertainment was finalised Wednesday, creating a new media giant, NBC Universal, its parent companies General Electric and Vivendi Universal said in a joint statement.

The new group is expected to post USD 15 billion (EUR 12.5 billion) in sales by 2005, the statement said.

Its assets range from the NBC US television network to the Universal film studios, as well as cable networks and theme parks.

General Electric owns 80 percent and Vivendi the remaining 20 percent.

Under terms of the deal, VUE shareholders received a total of 3.65 billion dollars in cash, and NBC Universal assumed USD 1.7 billion in Vivendi Universal debt.

The operation allowed Vivendi to reduce its debt by USD 6 billion, the company said Wednesday.

©AFP

Subject: French news

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