NBC AND VIVENDI UNIVERSAL ENTERTAINMENT CLOSE MERGER

NEW YORK (AdAge.com) -- General Electric Co.'s NBC and Vivendi Universal Entertainment closed the deal on their long-awaited merger yesterday, according to a joint announcement by both companies today. The merger GE COMPLETES DEAL FOR VIVENDI UNIVERSAL ENTERTAINMENT Acquisition to Form Fourth-Largest Media Company NBC Universal Global holdings NBC Universal combines broadcast and cable networks NBC, Telemundo, USA Network, Sci-Fi Channel, Bravo, Trio, CNBC and MSNBC (jointly owned with Microsoft); film studio Universal Pictures; TV production studios Universal Television and NBC Studios; a stations group comprising 29 NBC and Telemundo stations; and interests in five theme parks including Universal Studios Hollywood and Universal Orlando. International assets include video and DVD movie titles, TV programming and feature films in more than 200 countries; and TV channels in Europe, Asia, and Latin America. According to the announcement, shareholders of Vivendi Universal Entertainment received $3.65 billion of cash consideration, of which Vivendi Universal received $3.4 billion. NBC Universal assumed $1.7 billion of debt, previously included in Vivendi Universal's financial statements. The deal leaves GE owning 80% of NBC Universal, while Vivendi Universal controls the remaining 20%. Executive assignments This is the executive line up in the new structure so far: Ad sales haul Last year NBC took in $3 billion for prime-time programming during the upfront sales period. For the entire calendar year 2003, USA Network grabbed $567 million in advertising sales and Sci-Fi Channel posted $217.8 million, according to TNS Media Intelligence/CMR.

NBC AND VIVENDI UNIVERSAL ENTERTAINMENT CLOSE MERGER

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