NBC Merging with Vivendi Universal U.S.
October 9, 2003
It's official: General Electric's NBC unit is merging with Vivendi Universal's U.S. studio, cable networks, and theme parks under a deal announced Wednesday. The new NBC UNIVERSAL, 80% owned by NBC and 20% by VIVENDI, will not include UNIVERSAL MUSIC GROUP. NBC Chairman/CEO and GE Vice Chairman BOB WRIGHT will head the new entity, which is subject to U.S. and European regulatory approval.
While this deal does not affect UNIVERSAL MUSIC GROUP, which is still owned by VIVENDI, you can look for increased speculation that VIVENDI will increase its efforts to find a suitor for UMG, shortly.