Liberty Media exits Vivendi auction

French media and utilities conglomerate Vivendi Universal faces a shrinking field of suitors for its entertainment assets after Liberty Media Corp. withdrew from the bidding on the eve of Tuesday's planned board meeting.

Liberty said late Monday it was withdrawing, saying the $14-billion (U.S.) asking price was too rich for the Colorado-based firm head by cable TV mogul John Malone.

Hoping to pare billions of dollars in debt, Vivendi wants to sell its Universal film and TV studios, cable channels and Universal theme parks as a package.

Liberty's withdrawal left General Electric Co.'s NBC unit and a group headed by former Seagram Co. executive Edgar Bronfman as the leading contenders.

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John Malone is a Right-Wing Magnate who would take Newsworld International away from the CBC.

Amoung who's left, NBC would get too much broadcast power in the U.S. and Edgar Bronfman doesn't deserve a second chance.