Vivendi has decided to abandon its sale of its 20% stake in NBC Universal, the Hollywood Reporter said.

One source told the Reporter that it may not be the right time to sell, but Vivendi is very pleased with NBC/Uni’s oversight.

That certainly wasn’t always the case. But now Vivendi has gone out of its way to praise NBC/Uni chair Jeff Zucker.

The media and telecom conglomerate has an annual option window that ends Friday. During that period, it can trigger a sale by notifying GE, which controls 80% of NBC Uni. The industrial conglomerate in turn can opt to buy those shares or let Vivendi sell up to $4 billion of them in the public market the following year.

First Vivendi shifted its weight away from Mr. Jobs, and now NBC is following suit. Rivals from MTV and Amazon.com, EMI and Wal-Mart are also nipping at the digital music titan’s heels.

Per Reuters: NBC decided not to renew its contract with iTunes, pulling Battlestar Gallactica and Heroes from the teeny-tiny screen and becoming the second major media company to challenge Apple.

Per the The New York Times: MTV last week said it was going to fold its digital music service into a venture with the owners of the Rhapsody, “as part of a renewed challenge to Apple’s market-leading iTunes store.”

Per the Financial Times: “NBC appears to be embracing a rival. The media group, owned by General Electric, has begun to sell digital downloads through Amazon.com, the online retailer that is gearing up to challenge iTunes.”