Vivendi Reports a Mixed 1H; Looking to Sell Up to 50% of Universal Music
Vivendi posted a mixed first half of 2018 as revenue beat consensus expectations and EPS came in slightly below Street projections. Note that beginning in 2018, the firm switched to reporting only revenue results for the first and third quarters. While UMG remains the largest contributor to operating income (generating over 70% in 2017), the management board recommended that Vivendi sell up to 50% of the music unit to one or more strategic partners. The board ruled out an IPO of UMG due to the p...Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.
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