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USAi, Vivendi in Earnings Tiff

By Multi Channel News Staff -- Multichannel News, 12/6/2002 11:50:00 AM

USA Interactive Inc. is locked in a dispute regarding payments due from Vivendi Universal for its share of the earnings from a partnership agreement, according to a Securities and Exchange Commission filing Friday.

In the SEC filing, USAi estimated that it was owed about $620 million over the next 20 years as part of the agreement, which was struck in May.

USAi claimed that it is due a portion of the earnings from Vivendi Universal Entertainment, which was formed last year after USAi, formerly USA Networks Inc., sold the remaining interests in its cable networks and film studio to Vivendi for $11 billion.

USAi is headed by media mogul Barry Diller, who is also chairman of VUE. According to the filing, Diller is also a party to the agreement, along with Vivendi and its affiliates.

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