Bronfman's bid would give Vivendi roughly $8 billion of cash up front in a deal whose total value is close to $13 billion, shy of Vivendi's $14 billion asking price. In a statement released after the board meeting in Paris, Vivendi said it had "decided to enter into further negotiations with the two strongest bidders." The statement continued: "In both cases, Vivendi Universal would maintain a substantial minority interest in a U.S. media corporation with excellent growth potential." Yet there were really only two bidders to consider yesterday, since over the last few weeks the others have dropped out. Earlier contenders included John Malone's Liberty Media, MGM, Comcast and a group headed by billionaire oilman Marvin Davis and former Seagram CFO Brian Mulligan. Viacom, meanwhile, has not officially dropped out, but has said all along that it is only interested in Vivendi's cable networks – USA and the Sci-Fi Channel.