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S " The news conference followed a crucial board meeting to discuss the possible sale of Vivendi's vast entertainment empire Leading contenders for the television and film units include Viacom Inc , the U The company has already been selling off assets to trim its debt 's NBC and Metro-Goldwyn-Mayer As of Dec 1 billion euros a year earlier, the company said entertainment company, and General Electric Co 3 billion euros (US$25 "2003 will be a year of transition and of financial and economic progress " 6 billion) in 2002, the largest in French corporate history Vivendi Loses $26B; Most Ever in France Mar 6, 12:09 PM EST French media giant Vivendi Universal announced Thursday it had posted a net loss of 23 The disposal is seen as vital to help Vivendi pay off its multibillion-dollar debt and could turn into one of the largest entertainment auctions in years Former oil tycoon Marvin Davis has made a US$20 billion bid for all the entertainment assets but has threatened to withdraw the offer unless Vivendi agrees to exclusive talks 3 billion euros (US$13 television and film businesses, which include the world's biggest music company, Universal Music Group, the Universal film studio and theme parks, as well as the USA and Sci-Fi cable networks "2002 has been an extremely difficult year for Vivendi Universal," Chairman Jean-Rene Fourtou told a news conference Fourtou said the company is "determinedly carrying through our 7 billion euro asset disposal plan for this year Assets under the spotlight include Vivendi's U 50 billion), compared to 37 Fourtou said the company had been "approached by several potential partners S " But he said any deals would only made public once they are concluded 31, Vivendi Universal's net debt was 12 Most analysts say the company's directors have three basic options: a block sale, an initial public offering or a partial asset disposal Texas Senate Honors Singer Willie Nelson May 14, 7:59 AM EST The Texas Senate honored Willie Nelson, with state Sen Barrientos gave him a Texas flag that was flown over the Capitol Friday and an official gavel that read: "To Willie Hugh Nelson, a Texas legend, happy birthday "< /p> Nelson turned 70 on April 30 "This Texas treasure has talked the talk and he's walked the walk and we thank him for allowing us to celebrate stages and stages of his life today in the Texas Senate," Barrientos said com/ " The room erupted into cheers and applause willienelson â€â€?â€â€?â€â€? On the Net: Willie Nelson Web site: http://www Gonzalo Barrientos calling the singer a "true legend |
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