FTC Signs Off on Vivendi-NBC Deal
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The Federal Trade Commission gave its blessing to a deal that would merge General Electric Co.’s NBC division and Vivendi Universal’s U.S. entertainment business.
Under the terms of a deal announced in October, NBC would own 80% of the new company -- to be named NBC Universal -- with Paris-based Vivendi retaining a 20% stake. NBC would pay Vivendi $3.8 billion in cash and would assume $1.7 billion of Vivendi’s debt in the deal.
GE shares closed down 63 cents at $30.47, and Vivendi’s U.S.-traded shares finished down 95 cents at $25.17, both on the New York Stock Exchange.
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