Declines at games unit offset upticks in music, TV
Born This Way” was a major hit. Second-half releases will include The Killers, No Doubt, Robbie Williams and the Rolling Stones. Next month, Vivendi anticipates formal regulatory approval for its acquisition of EMI Recorded Music. French authorities are in the process of approving Canal Plus’ purchase of DTT channels, Direct Star and Direct 8. Vivendi has been actively refinancing, setting up a pair of five-year bank credit facilities worth a total $3.2 billion. And the board has been scrutinizing its assets for potential sales and exploring strategy since former CEO Jean-Bernard Levy left in June. Earlier this month, Vivendi appointed Canal Plus topper Bertrand Meheut to review its media biz and Jean-Yves Charlier, former CEO of Colt Telecom, to examine telecoms. “We remain totally committed to creating shareholder value, growing (profits) and keeping a strong credit rating,” said Dubos. “With this in mind, we will continue to work, together with the supervisory board, on Vivendi’s strategic development.”
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