Vivendi could decide as early as the beginning of December on whether or not it wants to hold on to its last small ownership stake in NBC Universal, a move that could give General Electric full control of the media company.

After selling its Vivendi Universal Entertainment to GE in 2004, the French company held on to 20 percent ownership with an option until 2016 to decide whether to sell its stake to GE, sell it through a public offering, or just hold on to it. It's a decision that opens up for Vivendi every November, just before the financial year ends for both companies, and Vivendi has made it clear in the past they don't expect to be a part of NBCU long-term.

"I have already said that we don't consider ourselves to be long-term investors of NBC Universal," Jean-Bernard Levy, Vivendi's chief executive officer, has said in the past.

It's unlikely Vivendi would seek a public offering with the current state of the economy not really friendly to such actions, so if Vivendi did anything, it would be selling that stake to GE, a company that also has been rumored to be seeking a buyer for its majority share of the company that owns NBC, SciFi Channel, USA Network, and other properties.

NBCU's cable operations have been doing well, especially in forms of alternative media such as DVD sales, according to recent reports. However, the company's primary network, NBC, has struggled over the past couple years, failing to introduce a new signature series, and faltering in maintaining its existing shows like "Heroes" and the Law & Order franchise.

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