McClintock, Pamela; Goldsmith, Jill
June 2005
Daily Variety;6/9/2005, Vol. 287 Issue 49, p1
Trade Publication
The article reports that closing the book on a transatlantic feud, Barry Diller's IAC/InterActiveCorp has agreed to unload its stake in Vivendi Universal Entertainment in a $3.4 billion deal. IAC noted the deal will result in an after-tax gain of $330 million --proceeds that, by any measure, exceed the company's publicly stated valuation of the VUE securities. VUE was created in 2002 through a joint venture of Universal Studios, then owned by Vivendi, and the entertainment assets owned by Diller's company--itself a complicated transaction.


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