USA Networks, Universal inch closer to $12.4 billion deal

Monday, December 17, 2001

NEW YORK -- Talks between Vivendi Universal and USA Networks Inc. are progressing, but no deal has been struck.

Sources say French media conglomerate Vivendi Universal will spend $12.4 billion in stock, cash and assumed tax liabilities for the assets of Barry Diller's USA Networks. Vivendi owns 43 percent of USA Networks, but Diller, its chairman, has the voting power.

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