ViveNBC – coming soon
p2pnet.net News:- NBC and still troubled Vivendi Universal Entertainment will soon be as one following the US Federal Trade Commission’s coming approval of their merger, which is expected to happen within the next few weeks, they say in a statement.
Vivendi’s Universal Music recently cut 1,350 jobs to save $200 million a year and to combat “industry contraction”.
“UMG is in the process of instituting significant cost-cutting initiatives that take into account the realities of the declining music market to further rationalize the company’s cost structure around the world,” said a Reuters story here.
Vivendi Universal sold most of its US entertainment assets to General Electric’s NBC, but said it planned to keep the music division.
Another Reuters report here says GE “moved to merge its television network with Vivendi?s Universal Studios, theme parks and cable networks last October, in a deal worth about $43 billion that catapults it to the media big leagues, analysts have said.”
