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BUSINESS
December 15, 2001 | SALLIE HOFMEISTER, TIMES STAFF WRITER
Vivendi Universal agreed Friday to invest $1.5 billion in EchoStar Communications Corp. in a dramatic bid to launch new film channels and bring interactive television and subscription music services to the U.S. Access to EchoStar's 6.5 million satellite TV subscribers would help the French water and entertainment giant shore up a serious weakness in its U.S. distribution that has undermined its plan to become a major media player.
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BUSINESS
September 3, 2003 | Richard Verrier, Meg James and Sallie Hofmeister, Times Staff Writers
In a move that could further consolidate a media landscape already dominated by a handful of titans, Vivendi Universal and General Electric Co.'s NBC entered into negotiations Tuesday to create a multibillion-dollar entertainment powerhouse. Vivendi's board of directors met in Paris on Tuesday and agreed to sign a nonbinding letter of intent to merge NBC's broadcast network and cable channels with Universal's venerable movie studio, theme parks and TV group.
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BUSINESS
September 1, 2003 | Richard Verrier and Meg James, Times Staff Writers
Senior Vivendi Universal executives are expected to recommend Tuesday that the board of the French conglomerate vote to enter into exclusive talks with General Electric Co.'s NBC, though a marriage is far from certain. The only other remaining bidder for Vivendi's U.S. entertainment assets, a group led by Vivendi Vice Chairman Edgar Bronfman Jr., hasn't given up on winning back the unit that the Bronfman family once owned.
BUSINESS
September 1, 2003 | Richard Verrier and Meg James, Times Staff Writers
Senior Vivendi Universal executives are expected to recommend Tuesday that the board of the French conglomerate vote to enter into exclusive talks with General Electric Co.'s NBC, though a marriage is far from certain. The only other remaining bidder for Vivendi's U.S. entertainment assets, a group led by Vivendi Vice Chairman Edgar Bronfman Jr., hasn't given up on winning back the unit that the Bronfman family once owned.
BUSINESS
September 3, 2003 | Richard Verrier, Meg James and Sallie Hofmeister, Times Staff Writers
In a move that could further consolidate a media landscape already dominated by a handful of titans, Vivendi Universal and General Electric Co.'s NBC entered into negotiations Tuesday to create a multibillion-dollar entertainment powerhouse. Vivendi's board of directors met in Paris on Tuesday and agreed to sign a nonbinding letter of intent to merge NBC's broadcast network and cable channels with Universal's venerable movie studio, theme parks and TV group.
BUSINESS
February 3, 2006 | From Bloomberg News
Vivendi Universal agreed to pay Matsushita Electric Industrial Co. $1.15 billion to gain full ownership of Universal Music Group and raise its stake in NBC Universal. Vivendi will buy Matsushita's 7.66% stake in a holding company that owns Universal Music and 20% of NBC Universal.
BUSINESS
June 7, 2003 | From Bloomberg News
USA Interactive said it agreed to purchase $407.4 million in warrants to buy its own stock from Vivendi Universal, which is trying to raise cash to pay debt. Paris-based Vivendi received the warrants to buy USA stock as part of its agreement last year to buy USA's entertainment business, including the USA and Sci-Fi Channel cable television networks. Vivendi is seeking buyers for the networks and Universal Studios. Vivendi still owns 56.
MAGAZINE
August 20, 2000 | DREX HEIKES
It's a new dawn in Hollywood. The French company Vivendi is completing acquisition of Seagram and its Universal Studios entertainment division. Today a Universal executive is giving his French overseer a storyboard presentation of the new Vivendi Universal's first action movie, starring Arnold Schwarzenegger. Universal: "The opening scene. Schwarzenegger and five other commandos are assaulting a mountain castle held by terrorists.
BUSINESS
October 16, 2002 | Richard Verrier, Times Staff Writer
The Anthony Hopkins thriller "Red Dragon" has killed at the box office, garnering more than $63 million for Universal Pictures in the last 10 days. That's fortunate for parent Vivendi Universal: Vivendi is considering using box-office receipts to help back about $1 billion in bonds the company plans to issue as it restructures its finances, said sources familiar with the plan. The company declined to comment. Vivendi's lenders are arranging the bond issue as part of a deal to extend a $1.
BUSINESS
January 30, 2010 | By Richard Verrier
The rise and fall of Jean- Marie Messier's debt-ridden media empire is an old story in Hollywood, but the company's shareholders are still smarting over their losses. A jury in U.S. District Court in Manhattan offered them some consolation Friday, finding that Paris-based Vivendi misled investors about the company's financial health from 2000 to 2002. The federal jury found the company liable on all 57 counts of violating U.S. securities laws stemming from one of several class-action lawsuits brought by angry shareholders.
BUSINESS
December 15, 2001 | SALLIE HOFMEISTER, TIMES STAFF WRITER
Vivendi Universal agreed Friday to invest $1.5 billion in EchoStar Communications Corp. in a dramatic bid to launch new film channels and bring interactive television and subscription music services to the U.S. Access to EchoStar's 6.5 million satellite TV subscribers would help the French water and entertainment giant shore up a serious weakness in its U.S. distribution that has undermined its plan to become a major media player.
BUSINESS
November 2, 2000 | From Reuters
Entertainment and spirits giant Seagram Co. on Wednesday posted a first-quarter operating profit versus a year-ago loss, beating Wall Street expectations, helped by box-office successes such as "Gladiator" and the sequel to "The Nutty Professor." Seagram also cited strong DVD and home-video sales of "Erin Brockovich" in its film division and hit albums from Italian singer Andrea Bocelli, rapper Eminem and rocker Bon Jovi in its music division.
BUSINESS
October 26, 2001 | BRIAN LOWRY, TIMES STAFF WRITER
In a move with sobering implications for Hollywood's creative talent, Sony Pictures Entertainment confirmed Thursday its plans to fold its network production division and lay off about 20% of the studio's domestic television operation employees. Sony's decision is one of a series of cost-cutting moves by major television production companies to reduce overhead in the face of a worsening advertising market and rising programming costs.
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