Eugene David ...The One-Minute Pundit |
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Sunday, October 16, 2005
THE version of events that prompted NBC Universal to abandon its DreamWorks acquisition reported by the media went like this: DreamWorks partners walked away from talks after NBC Universal Chief Bob Wright tried to lower the price.
But the real reason, according to a knowledgeable source, was that Jeffrey Immelt, chief of NBC Universal parent General Electric, killed the deal because the company has been unable to raise needed cash by selling its 50 percent stake in the Universal Studios theme park in Orlando. THE MIGHTY GE BANCORP can't sell a THEME PARK?!?!?!? No wonder our stock's sitting there.
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