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Universal Television Chairman to Stay

November 22, 1997|MARLA MATZER

Two days after Universal Television confirmed that Chairman Greg Meidel was leaving the company in the wake of its $4.1-billion deal with Barry Diller, it was announced Meidel would stay. Universal issued a one-line release stating that Meidel had signed a multiyear agreement with USA Networks Inc., the newly named Diller-Universal television operation.

Meidel, 43, joined Universal two years ago. He oversaw the division's turnaround from a money-loser to one that made $100 million in the last year, on the strength of such programming as "Hercules: The Legendary Journeys" and "Xena: Warrior Princess."

Sources said Meidel planned to leave after failing to reach agreement on contract terms, particularly salary. He was apparently offered a more attractive package to stay.

Meidel and Universal executives declined further comment.

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