Vivendi Sells Stake in NBC Universal for $2B

2003/9/2 NBC and VIVENDI UNIVERSAL
AP
Vivendi SA says it has sold a 7.66 percent stake in NBC Universal to General Electric Co. for $2 billion.

The sale is the latest step in the deal agreed last year under which the French media and entertainment conglomerate is selling its 20 percent stake in the U.S. television and film producer to majority owner GE.

Comcast Corp., the biggest U.S. cable TV provider, will then buy a controlling stake in NBC Universal from GE for $13.75 billion in cash and assets.

In a statement Monday, Vivendi said its remaining 12.34 stake will be sold to GE for $3.8 billion upon completion of the GE-Comcast transaction.