Vivendi reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported earnings were €962 million and earnings attributable to equity holders of the parent was €600 million or €0.49 per basic and diluted share on revenue of €6,347 million against earnings were €3,058 million and earnings attributable to equity holders of the parent of €2,760 million or €2.36 per basic share and €2.35 per diluted share on revenue of €6,509 million for the same period a year ago. Earnings from continuing operations of €962 million compared to €3,058 million for the same period a year ago. Earnings from continuing operations before provision for income taxes of €1,114 million compared to €3,312 million for the same period a year ago. Adjusted net income were €645 million or €0.52 per basic and diluted share on revenue of €6,347 million against net income of €625 million or €0.54 per basic share and €0.53 per diluted share on revenue of €6,509 million for the same period a year ago. EBITA were €1,346 million compared to €1,281 million for the same period a year ago. Adjusted earnings from continuing operations before provision of €1,279 million compared to €1,214 million for the same period a year ago. For the nine months, the company reported earnings were €2,925 million and earnings attributable to equity holders of the parent was €1,788 million or €1.50 per basic share and €1.49 per diluted share on revenue of €19,525 million against earnings were €4,875 million and earnings attributable to equity holders of the parent of €3,982 million or €3.42 per basic share and €3.40 per diluted share on revenue of €17,777 million for the same period a year ago. Earnings from continuing operations of €2,925 million compared to €4,875 million for the same period a year ago. Earnings from continuing operations before provision for income taxes of €3,492 million compared to €5,669 million for the same period a year ago. Adjusted net income were €2,112 million or €1.77 per basic share and €1.76 per diluted share on revenue of €19,525 million against net income of €2,079 million or €1.78 per basic and diluted share on revenue of €17,777 million for the same period a year ago. EBITA were €4,245 million compared to €3,848 million for the same period a year ago. Adjusted earnings from continuing operations before provision of €4,032 million compared to €3,786 million for the same period a year ago.

Comcast Corp. and General Electric Co., negotiating over the sale of NBC Universal Inc., agreed to value the unit at about $30 billion, according to three people familiar with the matter. Vivendi, which has a 20% stake in NBC Universal, is still not part of the agreement, according to one of the people, who wished to remain anonymous because the talks are not public. Comcast is in talks to acquire a 51% stake in the venture that would include the NBC Universal entertainment assets if Vivendi agrees to sell, people familiar with the matter said in October. Vivendi has an annual option to sell its stake in NBC between November 15 and December 10. The vice president of communications, at Vivendi, Simon Gillham said in a November 3 interview that the company is in “no hurry” to exercise its option. Gary Sheffer, a GE spokesman, and John Demming, a Comcast spokesman, both refused comment. Vivendi’s Gillham did not immediately return an e-mail seeking comment outside regular business hours. Comcast would contribute $4 billion to $6 billion plus cable channels including E! Entertainment, said one of the people. GE would contribute its 80% stake in NBC Universal, one person said. The structure being discussed would allow Comcast to acquire cable programming that Chief Executive Officer Brian Roberts has targeted as a priority for acquisitions. GE would withdraw from a business that some analysts have urged Chief Executive Officer Jeffrey Immelt to divest because it does not fit with the parent’s industrial, finance and health-care focus. Vivendi CEO Jean-Bernard Levy has described NBC Universal as “non-core” and has made acquisitions in other areas. GE and Comcast are looking to seal an agreement within the next two weeks, and the resulting company would have a net $9 billion in debt, one of the people said. Last week, Comcast and GE met with debt-rating companies to ensure that the debt the new venture would take on would not put the new entity below investment grade, said people familiar with the matter. Both companies want the venture to be investment grade. The deal, upon closing, may take as long as a year to pass U.S. regulatory approval, said the people. The venture would pay Vivendi over time, using cash generated from operations, one of the people said. Comcast could do the deal without putting onto jeopardy its dividend or share repurchases, said the person. Comcast has the option to buy out GE’s minority stake at 3.5 year and 7 year intervals, people with knowledge of the discussions said. The NBC Universal valuation was reported earlier on November 9 by the Wall Street Journal.

Comcast Corporation is finalizing a deal to acquire a 51% stake in NBC Universal Inc from General Electric Co. (GE), the New York Times reported citing people briefed on the talks. The people stated that a formal announcement is likely to be made in the coming week. According to the report GE which currently holds 80% in NBC Universal, would keep the other 49% stake and contribute about $12 billion in debt to the new entity. The reports added that GE may eventually divest its stake NBC Universal over several years. Vivendi also has to divest its 20% stake in NBC Universal, for the deal to happen. The people stated that talks with Vivendi are going on and are focused on reaching an acceptable valuation for NBC Universal, the people said.