The story
2000: merger of Vivendi and Seagram
Vivendi Universal Entertainment is the result of the 2000 merger of Seagram's Universal activities (excluding music) and the Canal+ Group, which includes the Canal+ channel, Canalsatellite, and StudioCanal, contributed by Vivendi.
In 2002, Vivendi Universal acquired the entertainment activities of the American group InterActiveCorp (namely the USA Network and the Sci-Fi channel) and integrated them into Vivendi Universal Entertainment and a new holding company named “Vivendi Universal Entertainment LLLP” domiciled in the United States.
On May 30, 2003, Vivendi Universal Entertainment sold Spencer Gifts, a chain of gift and novelty stores located in the United States, Canada, and the United Kingdom, to American investment funds Gordon Brothers Group and Palladin Capital Group for approximately $100 million.
2004: NBCUniversal merger
In May 2004, Vivendi Universal sold Vivendi Universal Entertainment to General Electric, owner of NBC, which integrated it into the new NBCUniversal media group in exchange for a 20% stake. Vivendi Universal retained Universal Music Group and Canal+.
Sale of remaining residual interest (2011)
Vivendi Universal's stake was finally sold to General Electric in two stages at the end of 2010 and beginning of 2011. This group then sold 51% of NBCUniversal to Comcast, which integrated its own television channels into the company.
Post-merger re-incorporation
After the 2004 merger between National Broadcasting Company, Inc. & Vivendi Universal Entertainment LLLP that created NBC Universal, Inc. (formerly National Broadcasting Company, Inc.), Vivendi Universal Entertainment itself would go through a re-incorporation to "Universal City Studios Productions LLLP" (which would take on the business name of "NBCUniversal Television Distribution").
From Wikipedia’s article on Vivendi Universal Entertainment, shared under CC BY-SA 4.0.4