Diller Resigns as CEO of Vivendi Universal

Barry Diller is resigning his position as chairman and CEO of troubled media giant Vivendi Universal Ent. He will retain his post as chairman and CEO of USA Interactive and there is speculation that he may be preparing to take part in buy-outs of the USA Network, Universal Studios and other Vivendi Universal properties.

In a release, Diller states, “My executive role was never intended to be permanent. Now that Vivendi Universal has begun a formal process in reviewing options for its entertainment assets, it is appropriate to step aside from any direct management responsibility. USA Interactive and I remain shareholders of Vivendi Universal Ent., and we are all hopeful for a speedy resolution of its future.”