Vivendi Universal looks increasingly like selling its US media assets which includes Universal Studios, various cable channels and the Universal theme parks.

According to the Financial Times, the group which also owns the Canal Plus pay-TV operations and film production and distribution outlet StudioCanal, has asked its US executives to draw up detailed financial information for bidders. This effectively marks the beginning of the official disposal programme.

The company, which is still creaking under debts of $13bn (Euros 12.3bn), has already received a number of informal bids for the Vivendi Universal Entertainment division. Oilman Marvin Davis reportedly offered $20bn for VUE and the music division and subsequently met with Vivendi Universal chief Jean-Rene Fourtou. Other potential bidders include NBC parent General Electric, Paramount Pictures and CBS-owner Viacom and Dreamworks SKG.

At a board meeting tomorrow, Fourtou is expected to give further detail on the disposal process, which is intended to raise a total of Euros 16bn. He may also update board members on the status of the lawsuits and tax liabilities, which may hamper the potential sale of any of its US businesses.