Vivendi sells final stake in NBC Universal to GE

Vivendi has sold its remaining stake in NBC Universal to General Electric for $3.8 billion. The transaction was part of a deal announced in December 2009 in which Vivendi agreed to sell its entire stake to GE once the sale of NBCU to Comcast was approved by regulators. Vivendi sold a 7.66 percent stake in NBCU to GE for $2 billion in September. NBCU was formed by the merger of Vivendi's and GE's television assets.

Comcast officially was granted approval Tuesday to buy NBCU.

"We are very satisfied that our strategic objective to exit NBC Universal has been completed," Vivendi CEO Jean-Bernard Levy said, adding the company is now "fully focused on pursuing its profitable growth strategy."

For more:
- see this release
- see this article

Related articles:
Vivendi may sell NBC Universal share via IPO
Reports: GE, Vivendi clear hurdle to Comcast-NBC deal

Suggested Articles

When Charter and Disney earlier this week announced their new carriage agreement, they included news about cooperatively working against video piracy, which…

Cord cutters who opt for streaming video services instead of traditional pay TV will inevitably increase their broadband consumption. But some new research…

A cord-cutting catastrophe struck the U.S. pay TV industry in the second quarter and took a collective 1.53 million subscribers with it. Or maybe not, but it’s…