U won’t dig Marvin’s garden Viv rejects $20 bil bid

 

Vivendi Universal’s showbiz assets are in play even as the conglom Thursday dismissed a recent $20 billion offer that was led by Marvin Davis and orchestrated by former Universal and Fox exec Brian Mulligan.

A sale of the entertainment division is “not on the agenda,” Vivendi said. It didn’t add “at that price” — but price is clearly a key issue, and Viv U wants to jack it up.

Some Wall Streeters and Hollywood execs called the offer fair, even rich, and were energized by the high valuation they said it placed on their own businesses.

Others see bigger numbers. One top media exec called the bid “lowball.”