GE, Vivendi near NBC Universal deal
Wednesday, 2 December 2009
NEW YORK, Dec 1 (CNNMoney.com): General Electric is close to clearing a major hurdle in its path to sell control of entertainment giant NBC Universal to Comcast, according to published reports Monday.
GE has reached a tentative deal to buy Vivendi SA's 20 per cent stake in NBC Universal for $5.8 billion, the reports say.
The current agreement is reportedly the result of face-to-face talks last week between GE chief executive Jeffrey Immelt and Vivendi's chief executive, Jean-Bernard Lévy.
The tentative plan values NBC Universal at around $30 billion, according to reports, setting the stage for a joint venture with GE, where Comcast would hold a reported 51 per cent stake in what would be one of the world's biggest media companies.
GE has reached a tentative deal to buy Vivendi SA's 20 per cent stake in NBC Universal for $5.8 billion, the reports say.
The current agreement is reportedly the result of face-to-face talks last week between GE chief executive Jeffrey Immelt and Vivendi's chief executive, Jean-Bernard Lévy.
The tentative plan values NBC Universal at around $30 billion, according to reports, setting the stage for a joint venture with GE, where Comcast would hold a reported 51 per cent stake in what would be one of the world's biggest media companies.