Barry Dillar's IAC Sells Stake in Vivendi Universal for 3.4 Billion. TheStreet reports:
"The transaction results in after tax proceeds to IAC that, by any measure, exceed the company's publicly stated valuation of the VUE securities," Diller said in a statement. "After paying applicable taxes on the transaction, IAC will have netted approximately $1 billion in cash, repurchased 56.6 million IAC shares, and obtained approximately $100 million in advertising across NBC-Universal's various networks over the next three years."
Well that ought to pay for Ask. IACI is up over 5% on the day so far.
In other business news, I think I have seen about 100 articles stating that Google is the #1 media stock, slightly larger than Time Warner, which has recently dropped the walled garden approach hoping to increase ad dollars.
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