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USA Interactive Sues Vivendi in Tax Spat
Barry Diller’s USA Interactive sued Vivendi Universal on Tuesday over a tax dispute, saying the French entertainment company reneged on its partnership agreement with USA to save much-needed cash. USA and Vivendi formed a joint venture, Vivendi Universal Entertainment, last year combining Universal’s film, television and theme park properties with USA’s cable channels and television production company. Diller recently stepped down as VUE chairman. As part of the deal, USA has claimed Vivendi must make annual payments to reimburse USA for taxes that will become due on income it receives from the preferred shares it owns in VUE. The unusual… Read more »