Liberty Media, Vivendi Universal Settle Legal Fight Over USA Networks Deal
Vivendi Universal has paid $775 million to Liberty Media to settle 2003 claims regarding Vivendi's 2001 purchase of Liberty Media's stake in USA Networks, Liberty Media said Friday as it announced its Q4 2015 financial results. Liberty said the $775…
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million settlement ends appeals both parties had filed regarding a 2013 judgment in which Liberty Media was awarded roughly $1 billion. Liberty Media in its original suit alleged "outright fraud, misrepresentation and concealment" regarding Vivendi's hiding of its liquidity crisis at the time of the USA Networks deal.