IAC to Sell Vivendi Universal Stake

Kerkorian set to boost GM stake; Siebel initiates quarterly dividend; plus more of Wednesday's stocks in the news

IAC InterActiveCorp (IACI ) announces the sale of Vivendi Universal Entertainment securities to General Electric (GE ). The company says it will net $1 billion in cash, repurchase 56.6 million in IAC shares, and obtain $100 million in advertising across NBC-Universal's various networks over the next three years.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.