Vivendi sits on bids for entertainment business

Posted Tuesday, June 24, 2003 5:15 AM | Contributed by Jeff

Vivendi Universal began scanning bids for its U.S. entertainment empire on Tuesday in an auction expected to redraw the U.S. media landscape and finally bury the French firm's debt-charged expansion into Hollywood. Three years after it bought the Universal film, TV and theme park businesses from the Bronfman family during the stock market boom, Vivendi looks certain to return the assets to North American hands to cut debts it inherited when markets crashed.

Read more from Reuters.

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