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| | CNN.com - Vivendi seals USA Networks deal - Dec. 17, 2001 |
 | | Under the deal, USA Networks' (USAI: up $0.74 to $24.56, Research, Estimates) outspoken CEO, Barry Diller, will become chairman of a specially created new company called Vivendi Universal Entertainment — a task he said he would do for no pay because he would "enjoy" it. |
 | | Once the deal is completed, Vivendi, which is selling the $7 billion in USA stock it already owns to help finance the deal, will have a controlling 93 percent stake in the new unit combining the Universal Studios Group and the entertainment assets of USA. |
 | | UBS Warburg media analyst Christopher Dixon said in a research note Monday that the deal marks the evolution of USA networks, which has built a fast-growing portfolio of interactive services such as ticketing, merchandising, travel and matchmaking services on which it may now focus. |
| edition.cnn.com /2001/BUSINESS/12/17/vivendi/index.html (619 words) |
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