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Barry Diller Sues Vivendi Universal For $620 Million

Authored by Mark Hefflinger on April 16, 2003 - 1:52am.
Paris -- Barry Diller has launched a two-front assault on media giant Vivendi Universal. Diller is suing Vivendi for $620 million for allegedly reneging on a tax bill agreement, and also has threatened to prevent the French conglomerate from selling theme park and media assets if Diller does not receive a $2-billion letter of credit to protect his investment in the companies' complex partnership. Vivendi formed a joint venture called Vivendi Universal Entertainment last year with Internet business USA Interactive, of which Diller had been chairman. Diller's lawsuit could not have come at a worse time for Vivendi, which has been struggling to get its muddled finances in order.
http://www.usainteractive.com
http://www.vivendiuniversal.com
tags: Universal | Vivendi | Barry Diller |



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