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.

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