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IAC Sells Vivendi Stake to NBC Universal
IAC/InterActiveCorp Sells VUE Stake to NBC Universal
for About $3.4B in Cash, Shares
NEW YORK June 8, 2005 - Barry Diller's IAC/InterActiveCorp, the operator of
the Home Shopping Network and Ticketmaster, said Wednesday it has sold its
5.44 percent stake in Vivendi Universal Entertainment LLLP to NBC Universal
for about $3.4 billion in cash and shares.
IAC and Vivendi Universal also agreed to permanently dismiss litigation
between them pending in the Delaware courts, and all parties have released
one another from potential claims relating to IAC's investment in VUE.
IAC shares rose nearly 5 percent in early trading.
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