MGM pulls out of race for Vivendi-Universal entertainment unit

Posted Wednesday, July 30, 2003 6:05 AM | Contributed by Jeff

The multibillion-dollar auction for Vivendi Universal's film, television and theme park operations was upended Tuesday when the suitor with the most cash on the table, Metro-Goldwyn-Mayer Inc., abruptly walked away, making it harder for the French conglomerate to ignite a bidding war. Vivendi execs says their $11.5 billion bid was $2.5 billion too low.

Read more from The LA Times.

Wednesday, July 30, 2003 6:06 AM
Jeff's avatar OK, so are the French familiar with the concept of supply and demand? You don't dictate the price when you've only got a half-dozen customers. Duh.

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

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