Vivendi Universal, GE Finalize Entertainment Merger

Authored by Mark Hefflinger on October 8, 2003 - 4:54am.

Paris -- After more than six months of protracted and oftentimes dramatic negotiations, Vivendi Universal and General Electric (GE) on Wednesday signed a merger deal that will create a media giant -- NBC Universal -- with an estimated value of $43 billion. The terms of the deal that will combine Vivendi Universal Entertainment with GE's television network NBC were largely unchanged from those posted in September, with the exception that GE will assume a slightly larger debt than previously proposed. NBC will assume $1.7 billion of debt, as opposed to the $1.6 billion announced in September. Under the deal, GE will pay Vivendi Universal Entertainment shareholders about $3.8 billion in GE shares, as well as give them a 20% stake in NBC Universal.
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