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NBC in Tentative Deal for Universal
Vivendi gives the GE unit a chance to become a media powerhouse with the sort of strategic advantages enjoyed by Viacom and Disney.
By Richard Verrier, Meg James and Sallie Hofmeister
Times Staff Writers
September 3, 2003
In a move that could further consolidate a media landscape already dominated by a handful of titans, Vivendi Universal and General Electric Co.'s NBC entered into negotiations Tuesday to create a multibillion-dollar entertainment powerhouse.
Vivendi's board of directors met in Paris on Tuesday and agreed to sign a nonbinding letter of intent to merge NBC's broadcast network and cable channels with Universal's venerable movie studio, theme parks and TV group. The new venture, tentatively dubbed NBC Universal, would overnight become the world's eighth-largest media company based on revenue and boast strategic advantages similar to those enjoyed by Viacom Inc. and Walt Disney Co. — the owners of CBS and ABC, respectively.
Posted by P6 at September 3, 2003 12:17 PM | Trackback URL: http://www.prometheus6.org/mt/mt-tb.cgi/1526