Rescuing Comcast deal?

Before Comcast can take control of NBC Universal, the French media giant Vivendi must relinquish its minority stake in NBC Universal - and that's been a struggle. So Jeff Immelt, CEO of GE, which owns most of NBCU, met today with Vivendi CEO Jean-Bernard Levy, which owns 20 percent of NBCU, to see if he could move things along. Money is a big issue, of course, but so is the timing of any payment to Vivendi. The French company could always spinoff its stake through an IPO, but it's not likely to make as much as it would by just dealing with GE - and it would take time. It can also do nothing - that is not exercise its option to sell its 20 percent, leaving the Comcast deal on the launch pad. (WSJ, LAT)