The guessing game has begun for how NBC Universal’s ownership structure could change depending on what Vivendi does in November with its 20% stake, says B&C.

Sources told B&C that GE is already talking to the market about possible scenarios, but no decision has been made.

GE spokeswoman Anne Eisele is quoted in the report as saying: "As you know, Vivendi has an annual option, exercisable later this year, to sell its stake in NBCU in the public market. If Vivendi determines to exercise its option, GE has several options, including bringing a new partner into NBCU, proceeding with an IPO or buying Vivendi’s stake."

–Elizabeth Jensen