Liberty Media drops out of Vivendi auction, two players left

Posted Tuesday, August 26, 2003 5:26 AM | Contributed by Jeff

Liberty Media Corp., the media company led by cable television pioneer John Malone, on Monday withdrew from the auction for Vivendi Universal's U.S. media assets, saying it could not realize enough value from a deal to meet Vivendi's asking price. NBC and an investor group led by Vivendi Vice Chairman Edgar Bronfman, Jr. are the last two interested parties.

Read more from Reuters via The Washington Post.

Tuesday, August 26, 2003 8:17 AM
It's also worth noting that the IRS is seeking $1.5 billion in taxes from Vivendi stemming from a 1995 sale of Dupont stock.

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Tuesday, August 26, 2003 11:01 AM
janfrederick's avatar That's strange that someone from Vivendi is in the running. Seems suspicious.

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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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Tuesday, August 26, 2003 12:07 PM
That kind of thing is fairly common. A company decides to sell a division, and the management of that division arranges financing to purchase it.
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