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Vivendi's Cable Assets Up For Sale Including Sci-Fi and USA, Viacom Interested in Acquisition

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Posted: 12:59:19 on March 08 2003
By: MediaTrek
Dept: General Genre/SciFi
Strapped for cash, French media conglomerate Vivendi Universal is looking to sell off many of its assets, including The Sci-Fi Channel, USA Networks, Universal Studios, Universal theme parks and television production company. The Sci-Fi Channel is the home on cable for science fiction, including STAR TREK: THE ORIGINAL SERIES, Scott Bakula's claim to fame QUANTUM LEAP, and the popular genre series STARGATE SG-1. TREK alum Michael Piller's hit series THE DEAD ZONE, which Paramount Pictures has the rights to, has it's home on USA Network.

Paramount's parent company, Viacom Inc., is a strong contender for Vivendi Universal SA's television and film businesses, according to MediaWeek. Vivendi is also considering how much money could be raised in an initial public offering of the all their entertainment business. Viacom chair Sumner Redstone has flirted with the idea of starting his own rival science fiction cable channel in recent years.

In addition to Viacom, General Electric and Metro-Goldwyn-Mayer Inc. (owners of the STARGATE property) all are expected to look at the TV and film assets as part of the process. At this time, Vivendi is expected to package assets together, which could slow the auction process as most potential bidders have indicated their main interest is in the cable channels.

Marvin Davis, an oil tycoon, is also interested in acquiring Vivendi's assets. He currently has an estimated $20 billion offer on the table.

Read more at MediaWeek.

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It gets worse for Vivendi...
By Rat Boy ( ) at 15:08:43 on March 08 2003
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There's also reports that they're trying to sell off their video game and music interests. When these conglomos collapse, they collapse hard.

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I don't get it...
By Beckett ( email@jonathan-davies.net) at 14:29:32 on March 08 2003
URL: http://www.jonathan-davies.net | User Info
How can Universal be going bust?! I only found out about the whole French aspect a few weeks ago on the news, but Universal selling Universal Studios doesn't seem to make much sense?!

Would the Government really let Viacom buy this lot anyway? (well looking at Microsoft, yeah I guess they would). Where's the EU when you need it? :)

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Nemesis had all the right buttons there waiting to be pressed, but like Data on a Reman keypad Paramount seem to have pushed the wrong ones. :/

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