A court ruled for
in a tax dispute with
The Delaware Chancery Court ruled Vivendi Universal Entertainment, a venture formed by the two companies, is obligated to make tax distributions to InterActive in connection with InterActive's preferred interests in Vivendi Universal.
InterActive, the New York-based e-commerce giant operated by media mogul Barry Diller, had sued for the payments in April 2003. InterActive has said it was owed some $620 million, according to
Vivendi said it would appeal the ruling. Vivendi Universal Entertainment is now part of
"We have maintained from the outset that we would prevail over Vivendi's empty and cynical attempt to overturn an agreement made in good faith and are gratified that the Delaware court so expeditiously and clearly sustained our position," Diller said.
On Thursday, InterActive rose 22 cents to $30.36 and Vivendi rose 7 cents to $27.97.