Diller considering joint bid with Viacom for Vivendi-Universal Entertainment

Posted Wednesday, July 16, 2003 5:20 AM | Contributed by Jeff

Barry Diller, a former Vivendi executive who owns a stake in the entertainment assets, is eyeing the multi-billion-dollar auction of the film, television and theme park business, and has been discussing a possible deal with billionaire Redstone, the sources said. Under a standstill agreement set in place when Diller originally sold his USA Networks business to Paris-based Vivendi , Diller is not formally allowed to bid in the auction. But Vivendi, the world’s second largest media group, is keen to secure a deal to cut debt — and it might waive that clause if Diller teams up with another bidder to make a late entrance to join a high-profile bid battle, one source said.

Read more from Reuters via MSNBC.

Wednesday, July 16, 2003 5:51 AM
Viacom will soon own the world, at this rate. Too bad they "most likely" would spin off Universal Studios to Diller and not make it a Universal/Paramount Park. Free access for me!!

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Chris Tyson
Photographer
www.pkiunlimited.com

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Wednesday, July 16, 2003 7:20 AM
Hmmm...perhaps Viacom is behind CP's "bad" billboards.. ;)

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"SOME people have NO class!" - Mom from the Whizzer queue

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Wednesday, July 16, 2003 9:28 PM
Viacom does own Billboards as well. So maybe CP accidently decided to put up a sign on one of Viacom's lovely billboards.

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Chris Tyson
Photographer
www.pkiunlimited.com

+0

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