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NBC Wins Vivendi Battle

World | September 3, 2003, Wednesday // 00:00

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The creation of a new global media giant has drawn closer after Vivendi Universal said it intended to merge its entertainment business with General Electric's television network NBC. Vivendi said it had entered exclusive talks with NBC over the formation of a new business which could be worth more than USD 40 B. The new firm would combine NBC's broadcast network and cable television channels and Vivendi's entertainment assets, which include Universal Studios. General Electric's chairman Jeff Immelt said the new firm would be "a global leader in the media industry". Vivendi had been considering two offers for its entertainment business, but decided not to accept the bid from an investor group led by Edgar Bronfman, the former Seagram chief executive.

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