On Sunday evening, Reuters reported that French media conglomerate Vivendi Universal was close to an agreement to buy the entertainment assets of USA Networks Inc. for about $12.4 billion in cash, stock and assumed tax liability.
Details were reportedly still being finalized, with announcement of an agreement likely
within a week.
Under the transaction, Vivendi Universal would pay about $9 billion for the
stake it does not already own in USA Networks' entertainment assets, which
include cable channels, the USA Network and a television production unit.
A spokeswoman for USA Networks and a spokesman for Vivendi, which already
owns 44 percent of USA Networks, had no comment on the
situation.
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