IAC/InteractiveCorp, Vivendi Universal and have agreed to end their litigation over Vivendi Universal Entertainment (VUE). A General Electric subsidiary is the sole owner of VUE.

As a result IAC will exit from VUE. NBC Universal, a subsidiary of GE is now the sole owner of VUE.

IAC has sold its 5.44% interest in VUE to NBC Universal for $3.4bn.

IAC and Vivendi Universal have agreed to end all legal action in the Delaware courts. Full details.

Vivendi Universal and GE have also deferred to 2007 and 2010 respectively when they can exercise monetization rights and equity rights.

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