As reported by Reuters today: "Vivendi Universal Entertainment and NBC have completed their merger to create NBC Universal, a media and entertainment giant with expected 2005 revenues of $15 billion, the companies said Wednesday.

"The deal between VUE, the movie studio and television wing of France's Vivendi Universal, and NBC, the U.S. television arm of General Electric Co. ... is part of Vivendi's plan to restructure after expansion in the 1990s brought it to its knees.

"GE will own 80 percent of NBC Universal and Vivendi Universal the remaining 20 percent. Vivendi Universal will have the right from 2006 to sell its stake over time at fair market value, the statement said.

"The new company's assets range from television networks such as NBC, Telemundo, USA Network and CNBC to film studios Universal Pictures and interests in five theme parks including Universal Studios Hollywood and Universal Orlando."

# posted by Steve Gallagher @ 5/12/2004 03:55:00 PM

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