Vivendi Universal and General Electric’s NBC division agreed to merge, creating one of the world’s largest media companies. Assets of the new company would include: the NBC television network and 14 broadcast stations in major U.S. cities; a portfolio of leading cable channels (USA Network, Sci-Fi Channel, CNBC, MSNBC, Bravo, and Trio); Universal Pictures; Universal Television; and Spanish-language TV broadcaster Telemundo. The proposed transaction would result in GE, NBC’s parent company, owning 80% of the new company and Vivendi Universal owning 20%.
GE said the merger offers “a unique opportunity to extend NBC’s legacy as the nation’s first broadcast company well into the coming age of digital media.”http://www.ge.com
