FTC Approves Vivendi Universal/NBC Merger20 Apr, 2004 By: Erik Gruenwedel
The Federal Trade Commission said Tuesday that it would not oppose the proposed merger between Vivendi Universal's entertainment division, VUE, and NBC, a unit of General Electric.
The new media company, called NBC Universal, would have estimated assets of about $43 billion, with GE owning 80 percent, and 20 percent owned by VUE shareholders.
NBC chairman and CEO Bob Wright will head the new company.
VUE and NBC said they anticipate consummation of the deal within the next few weeks.