New York, London, Paris, June 8, 2005 – LAWFUEL – The Law News Network – Debevoise & Plimpton LLP is advising NBC Universal in its acquisition of IAC/InterActiveCorp’s 5.44% common interest and preferred interests in Vivendi Universal Entertainment LLLP (VUE), an NBC Universal subsidiary, for aggregate consideration of approximately $3.4 billion. As a result of the transactions, VUE is now wholly owned by NBC Universal. NBC Universal in turn is 80%-owned by General Electric, with a subsidiary of Vivendi holding the remaining 20%. In connection with the transactions, IAC and Vivendi have agreed to permanently dismiss the litigation currently pending between them in the Delaware courts.
NBC Universal is one of the world’s leading media and entertainment companies in the development, production, and marketing of entertainment, news, and information to a global audience. Vivendi is a leader in media and telecommunications with activities in television, film, music, interactive games and fixed and mobile telecommunications. IAC operates leading and diversified businesses in sectors being transformed by the internet, online and offline. GE is a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. Debevoise is a leading international law firm with offices in New York, London, Paris, Frankfurt, Washington, Moscow, Hong Kong and Shanghai.
The Debevoise team is led by partners Jeffrey J. Rosen and David H. Schnabel and includes associates Kevin A. Rinker, Rafael Kariyev and James E. Franklin.