Universal to Close New Media Division
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Universal Studios will close its new media division next month as the studio combines operations with USA Networks Inc.’s entertainment group, according to sources. The shutdown affects about 30 employees, who were notified of the plan last week and will be given opportunities to apply for other positions in the company.
The new-media division, which operates the UniversalStudios.com Web site and at one point coordinated Universal’s online shopping activities, will be absorbed into USA as part of a broader effort to eliminate overlapping functions between the two companies. Universal and Studio Canal also are folding their specialty film divisions into USA Films, eliminating about two dozen jobs.
Shares of Universal Studios parent Vivendi Universal fell 92 cents to $42 on the New York Stock Exchange.
Richard Verrier
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