Universal Studios Sells Stake in Loews

Universal Studios Inc. said it sold its stake in movie theater operator Loews Cineplex Entertainment Corp. California-based Universal, owned by French-American media giant Vivendi Universal, sold more than 15 million common shares to investment bank Goldman Sachs Group Inc., according to a filing with the Securities and Exchange Commission. Universal sold the shares to recognize a tax loss on its investment in Loews. Loews shares rose 2 cents to 14 cents in trading on the OTC Bulletin Board. Vivendi shares gained 15 cents to $55.25 on the New York Stock Exchange.