Struggling media mammoth Vivendi Universal is now in exclusive talks with a consortium over the sale of its US publishing unit Houghton Mifflin.

As reported earlier this week [WAMN: 28-Oct-02], Vivendi received an offer of around $1.7 billion (€1.72bn; £1.09bn) for the unit from a group of private equity companies – Apax Partners, Blackstone Group, Thomas H Lee Partners and Bain Capital.

In agreeing to sell Houghton to this consortium, the debt-beset media giant completes the disposal of its global publishing arm.

Data sourced from: New York Times; additional content by WARC staff