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New York (pte053/16.06.2003/17:11) - The US-based division of ailing media group Vivendi Universal is a prize sought by many. No fewer than six companies have pitched offers to buy Universal Studios, as well as Vivendi's cable channels and theme parks.
At the moment, Liberty Media http://www.libertymedia.com appears to hold the best cards in the poker game for the purchase, reports the Financial Times (FT). John Malone's US group has the "double structural advantage" of experience in the media business and a good connection to Barry Diller, who holds veto rights to the sale of the group's US assets.
Company insiders have told FT that Liberty is close to closing the deal with Vivendi's COO Jean-Bernhard Levy. The US group is reportedly planning to make a concrete offer in the next few days.
Vivendi Universal Entertainment (VUE) is valued at approximately twelve to 14 billion dollars (including debts).
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