The saga of French Group Vivendi attempting to sell off VUE, its US entertainment interests, may be nearing some kind of resolution. It looks as if the group will enter exclusive negotiations with NBC, as the embattled French media group seeks to end the long-running auction.
The two remaining bidders are NBC and former vice-chairman of Vivendi Edgar Bronfman. But NBC seems to be front runner. Under the deal proposed, Vivendi would retain at least 20 per cent of the enlarged media group, which it could cash in over five years. The joint venture is provisionally named NBC Universal.
Some executives of VUE, the US entertainments arm, are concerned that NBC will strengthen the television side of the business and cause large-scale redundancies.