GE, Vivendi Universal agree on merger

NEW YORK -- General Electric and Vivendi Universal sealed the deal -- subject to regulatory approvals that could last until second-quarter 2004 -- that will create NBC Universal.

The merger of most of Vivendi Universal Entertainment's U.S.-based entertainment assets with GE's NBC unit will result in the formation of a company with about $13 billion in annual revenue.

Under terms of the deal, NBC Universal will hold interests in the five Universal theme parks. The potential impact of the transaction on the Universal theme parks? "It's business as usual," according to a spokesman for Universal Parks & Resorts.

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