GAcoaster Posted July 9, 2008 Report Share Posted July 9, 2008 From The Los Angeles Business Journal: Report: Rumors swirl on NBC Universal's future at Allen & Co. conference Los Angeles Business from bizjournals NBC Universal Chief Executive Officer Jeff Zucker could be looking to unload some of the conglomerate's assets at a large media conference starting today, the New York Post is reporting. Zucker is attending the Allen & Co. media conference in Idaho, which kicks off Wednesday. The report cites a source within the banking industry saying that NBC is looking for deal for its television stations, theme parks, the Ion TV network and Shop NBC. There are also rumors of a potential simplification of the complex ownership structure of cable networks A&E and History. NBC, Hearst Corp. and The Walt Disney Co. (NYSE: DIS) all have stakes in the networks. The biggest news could be the future of the NBC Universal itself. The report says that General Electric Co. CEO Jefferey Immelt would likely not sell NBC Universal outright due to the tax hit GE (NYSE: GE), which owns 80 percent of NBC Universal, would take, but might seek a merger or spin-off. The report cites Time Warner (NYSE: TWX) and Liberty Media as potential partners in such a deal. Time Warner CEO Jeff Bewkes and Liberty Media's John Malone are both expected to be at the conference. Another potential option could be a public offering of the media company, the report says. Paris-based Vivendi holds the other 20 percent of NBC Universal. Under a deal with GE, Vivendi has a put right on its stake, and in November, could ask GE to buy back Vivendi's stake or force a listing of NBC. Quote Link to comment Share on other sites More sharing options...
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