NBC Universal pays $3.4 billion in cash and shares
NEW YORK — IAC/InterActiveCorp, the operator of the Home Shopping Network and Ticketmaster, said Wednesday it has sold its 5.44% stake in Vivendi Universal Entertainment LLLP to NBC Universal for about $3.4 billion in cash and shares.
The deal includes 56.6 million IAC shares, which had a market value of $1.4 billion, the companies said in a joint statement.
Vivendi Universal Entertainment — which includes Universal Studios, theme parks and cable TV units — is now wholly owned by NBC Universal, which is itself 80% owned by General Electric Co. and 20% owned by Vivendi Universal.
It was created in 2002 by Vivendi Universal and IAC in connection with IAC’s disposition of its entertainment assets. Vivendi Universal Entertainment became part of NBC Universal in May 2004.
IAC and Vivendi Universal also agreed to permanently dismiss litigation between them pending in the Delaware courts, and all parties have released one another from potential claims relating to IAC’s investment in VUE.