Liberty Media Corp won a $950 million jury verdict Monday against French
media company Vivendi Universal S.A. in a lawsuit stemming from a 2002
sale of USA Networks.
J
ohn C. Malone controlled American media conglomerate, Liberty Media
Corporation (NASDAQ: LMCA), has won a 765 euros ( $950 million) US
federal court jury verdict against French multinational mass media and
telecommunication company, Vivendi SA.
The verdict draws curtain on the dispute that has been going on since
2002 and relates to sale of USA Network by Liberty to Vivendi. Liberty,
which then owned about 20 percent of USA Networks sold it to Vivendi for
return of Vivendi shares.
Vivendi stocks collapsed soon after and Liberty had to endure heavy
financial losses. The lawsuit filed by Liberty in 2003 alleged that
Vivendi kept it in dark about its precarious financial conditions. Read More.......
Resource Link: Sharewell Newswire
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