Liberty drops out of bidding for Vivendi Universal Entertainment

Posted Thursday, August 7, 2003 5:06 AM | Contributed by Jeff

John Malone has for now removed his Liberty Media Corp. from the bidding for Vivendi's U.S. entertainment assets, refusing to pay the $14 billion minimum Vivendi wants, people familiar with his plans said on Wednesday. Many analysts felt Liberty would most likely be the highest bidder. MGM dropped out of the running last week.

Read more from Reuters.

Thursday, August 7, 2003 5:07 AM
Wow, another one bites the dust. Did I mention that the Vivendi execs missed the first day of economics class when they went over supply and demand? At this rate they'll never have a buyer.

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Jeff - Webmaster/Admin - CoasterBuzz.com - Sillynonsense.com
DELETED! What time does the water show start?

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Thursday, August 7, 2003 5:14 AM
Sounds like Vivendi overestimates the value of their business. This sort of thought could well be how they not in this much trouble in the first place.
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Thursday, August 7, 2003 5:37 AM
So is this more of an ownership thing or is this going to have a direct impact on the Universal parks? I've yet to figure this out. Are USF, USH, and IoA going to be closing their doors sometime soon if a buyer isn't found?

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Give me launched or give me ... uh ... more launched!!
--Brett

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Thursday, August 7, 2003 5:48 AM
No, the doors will not be closing but I do think Vivendi is going to have to think about selling off their assets in pieces. I believe there would be interest in the parks from companies who would not be interested in any other business unit.
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Thursday, August 7, 2003 5:57 AM
Wow. Two very major suitors drop out and both were the highest offers. Vivendi is in serious trouble and don't seem to know it. I wonder if they will even get anywhere near what MGM or Liberty offered if they sold the assets in parts.
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Thursday, August 7, 2003 7:39 AM
Sometimes you can get more if you sell the parts indiviually instead of as one package. It isn't unheard of, Thrillfan.

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--George H
---Currency tracking experiment... http://www.wheresgeorge.com (Referring to The "George" on the $1 bill - Not Me)

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Thursday, August 7, 2003 11:31 AM
All you gotta do is watch that Charlie Sheen movie. ;)

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"I go out at 3 o' clock for a quart of milk and come home to my son treating his body like an amusement park!" - Estelle Costanza

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Thursday, August 7, 2003 12:39 PM
As someone who worked for USF for 4 years, I am not surprsied. The greed this company shows and the absolute disregard for reality will only further de-value what may be left of the company. Let's see how long it takes before they start BEGGING people to make them an offer.

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Thursday, August 7, 2003 7:51 PM
They should just sell in pieces, as stated. Paramount is interested in the Sci-fi channel mostly(though I'd say they wouldn't mind IoA/USF/USH), and others want other things. I wish someone would just lower the price to something reasonable so that something good would come out of it.
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Since I'm no longer considered "funny" I will not be including a signature with my comments.
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