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Vivendi, NBC Deal Creates Conglomerate
By SETH SUTEL
AP Business Writer
NEW YORK (AP)--After months of negotiations, NBC is getting its prize: Membership in the Big Media Club.
NBC, a unit of General Electric Co., sealed a deal to merge with the entertainment businesses of Vivendi Universal, the companies announced Wednesday, creating a media conglomerate in the same class as giants like Viacom Inc. and Walt Disney Co.
The new company, to be called NBC Universal, will have a leading broadcast network, the Universal movie and television studios, 14 local TV stations, an array of cable networks including USA, CNBC and Bravo, and interests in five theme parks.
Vivendi, NBC Deal Creates Conglomerate
By SETH SUTEL
AP Business Writer
NEW YORK (AP)--After months of negotiations, NBC is getting its prize: Membership in the Big Media Club.
NBC, a unit of General Electric Co., sealed a deal to merge with the entertainment businesses of Vivendi Universal, the companies announced Wednesday, creating a media conglomerate in the same class as giants like Viacom Inc. and Walt Disney Co.
The new company, to be called NBC Universal, will have a leading broadcast network, the Universal movie and television studios, 14 local TV stations, an array of cable networks including USA, CNBC and Bravo, and interests in five theme parks.
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