Contact:
Newsfox Desk
Phone: + 43 - 1 - 811 40 - 319
E-Mail: editor@newsfox.com
| Pressbox | 
|
New York (pte035/23.06.2003/15:53) - Liberty Media http://www.libertymedia.com continues to hold the best cards in the bidding battle over French media group Vivendi Universal's http://www.vivendiuniversal.com US entertainment subsidiary, as reported by the Los Angeles Times today.
John Malone, media mogul and owner of Liberty Media, is reportedly offering 14 billion dollars in cash for Vivendi's US entertainment empire. The offer does not include the Universal Music Group, which Vivendi would like to keep. Vivendi has also said it plans to hold on to a block of shares in its entertainment division.
The three other bidders, Metro-Goldwyn-Mayer, Viacom and General Electrics NBC, stand less of a chance of securing the deal because they are only interested in select areas of Vivendi's US entertainment business. According to the LA Times, they are also not prepared to pay as much, while Malone, who has a reputation as a smart dealer, has the financial means to carry out the transaction.
(end)
|
|
