Barry Diller's talks about merging his USA Networks with GE's NBC TV unit has been thwarted by Edgar Bronfman Jr., who owns 45 percent of Diller's company, the Los Angeles Times reports. The Seagram chief apparently objected to the deal -- reportedly a stock swap valued between US$15-$20 billion -- because it would have cut into his take in USA Networks. The preliminary talks with Diller point to GE's seriousness about spinning off its TV business, the newspaper said, adding that GE has also talked merger with Sony, Viacom, and John Malone's Liberty Media.
Diller Thwarted
Barry Diller's talks about merging his USA Networks with GE's NBC TV unit has been thwarted by Edgar Bronfman Jr., who owns 45 percent of Diller's company, the Los Angeles Times reports. The Seagram chief apparently objected to the deal -- reportedly a stock swap valued between US$15-$20 billion -- because it would have cut into his take in USA Networks. The preliminary talks with Diller point to GE's seriousness about spinning off its TV business, the newspaper said, adding that GE has also talked merger with Sony, Viacom, and John Malone's Liberty Media.
