Posted on Thu, Nov. 12, 2009
Top executives from Vivendi, the French media conglomerate, declined during a conference call today with reporters to comment on their plans for the company's 20 percent stake in NBC Universal Inc.
Comcast Corp. and General Electric Co. have formed a joint venture that would give control of NBC Universal to Comcast, the Philadelphia cable giant, but the deal is contingent on Vivendi's agreeing to sell its stake to GE, which owns the remaining 80 percent.
Vivendi was expected to use proceeds from the NBC sale to buy a Brazilian phone company, but those plans may be on hold. Vivendi has until mid-December to make a decision on NBC Universal.
The conference call was held to discuss the company's third-quarter financial results. - Jane M. Von Bergen
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