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Universal Music, Imeem.com Sign Streaming Media DealSteven Towns • Dec 10, 2007
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Friday, Nov 154:18 AMVivendi's profit falls; to spin off declining SFR
Friday, Nov 154:18 AM| Comment!
- Vivendi's (VIVHY) FQ2 net profit dropped to €376M from €493M a year earlier, hurt by further declines at its French telecom unit SFR.
- EPS 28 cents per share vs 38 cents per share.
- Adjusted revenue +0.2% to €5.35B, in line.
- Adjusted EBIT dropped 23% to €730M, in line with some analysts' expectations.
- Vivendi confirmed its FY guidance for all units.
- Vivendi hopes to split off SFR, its largest subsidiary, by next year. The unit has been hit by a price war in France.
- Shares +2.85% in Paris. (PR)
Tuesday, Nov 58:16 AMVivendi sells 53% stake in Maroc Telecom for €4.2B to Etisalat
Tuesday, Nov 58:16 AM| Comment!
- Vivendi (VIVEF) sells its 53% stake in Maroc Telecom (MAOTF) to UAE's Etisalat for €4.2B ($5.7B) in cash. The companies intend to close the deal by the beginning of 2014.
- Negotiations began in April, with Etisalat becoming the only potential buyer after Qatar's Ooredoo withdrew from bidding in June. The Moroccan state holds a 30% stake in Etisalat and wanted to ensure that the new owner would invest in mobile infrastructure.
- The divestment builds on an overarching strategy of Vivendi to focus on its media and content businesses.
Tuesday, Oct 18:46 AMFT: Echostar and Vivendi negotiating Brazilian pay-TV joint venture
Tuesday, Oct 18:46 AM| Comment!
- Echostar (SATS) and Vivendi (VIVHY.PK) subsidiary GVT are negotiating a pay-TV service joint venture in Brazil, reports Financial Times.
- The move would allow GVT to offer standalone TV services as opposed to its current triple-play-only offers (fixed-line, TV, and internet). GVT has grown rapidly and won 500K customers since it started the business in 2012.
- Bernstein analyst Claudio Aspesi noted, "This would give GVT the opportunity to distribute their content on a wider footprint." The JV may also benefit from increased pay-TV demand on the back of the 2014 World Cup, which Brazil will host.
Friday, Sep 134:32 AMClear Channel to pay Warner for radio songs for first time
Friday, Sep 134:32 AM| 1 Comment
- Clear Channel Communications has for the first time agreed to pay royalties to Warner Music Group for songs played on Clear Channel's 850 radio stations.
- In return, Warner will lower the costs for Clear Channel of streaming music over the Internet from the 22 cents per 100 songs that the latter pays now. However, it reportedly won't be lower than Pandora's (P) 12 cents.
- Clear Channel has also been trying to strike licensing deals with Sony (SNE) and Universal Music (VIVEF.PK), but to no avail. Clear Channel, though, does have agreements with smaller labels.
- While Clear Channel and its peers have fought against radio stations having to pay royalties, along with Pandora, it has also complained about the high cost of streaming.
Thursday, Sep 124:49 AMVivendi to study break-up into two separate companies
Thursday, Sep 124:49 AM| Comment!
- Under pressure from shareholders, Vivendi (VIVHY.PK) plans to explore a separation into two companies: one comprising its French phone unit SFR and the other an international media group made up of the the rest of its businesses - Universal Music Group, pay-TV firm Canal Plus and Brazilian broadband provider GVT.
- The new Vivendi intends to keep CEO Jean-Francois Dubos in the job and end a search for a new boss.
- "The board agreed there were no synergies between telecoms and content, and that was dragging down Vivendi because of a holding structure discount," said 5% shareholder Vincent Bollore.
- The proposed break-up comes after Vivendi agreed to sell its holding in video-games maker Activision Blizzard.
Friday, Jul 262:24 AMVivendi (VIVHY.PK) has agreed to sell 85% of its stake in Activision Blizzard (ATVI) to the computer-games company and its management for $8.2B. Activision will buy back 429M shares from Vivendi for $5.83B, using $1.2B of cash and debt of $4.6B, while a consortium led by Activision CEO Bobby Kotick and co-Chairman Brian Kelly will acquire 172M shares for $2.34B. The value of the deal is $13.60 a share, or a 10% discount to Activision's close on Thursday of $15.18. Vivendi, which also plans to sell its holding in Maroc Telecom, will retain a stake of 12% in Activision after the deal is closed. (PR) |Friday, Jul 262:24 AM| 6 Comments
Tuesday, Jul 233:28 AMAs expected, Vivendi (VIVHY.PK) has entered talks to sell its 53% holding in Maroc Telecom (MAOTF.PK) to Abu Dhabi based Etisalat for €4.2B in cash. Vivendi hopes to complete the negotiations by the end of 2013, while it's also talking with a Moroccan consortium about investing in the company. A sale would be the first step in Vivendi's strategy to focus on its media operations as it reportedly explores how to generate cash from its Activision Blizzard video-games unit. |Tuesday, Jul 233:28 AM| Comment!
Monday, Jul 224:25 AMVivendi (VIVEF.PK) is reportedly expected to discuss plans at a board meeting today for Activision Blizzard (ATVI) to pay a special dividend of over $3B. With a 60% holding in the video-games company, Vivendi would receive $2B, although Activision would have to raise debt to pay for the dividend. Vivendi's directors will also talk about a sale of its controlling stake in in North African phone operator Maroc Telecom (MAOTF.PK) for about $5.5B plus debt to Emirates Telecom. The money will allow Vivendi to reduce its €13.19B debt and could presage a spin-off of its SFR French phone operator subsidiary. |Monday, Jul 224:25 AM| Comment!
Friday, Jul 194:45 AMVivendi (VIVEF.PK) reportedly turned down an $8.5B offer it received three months ago from SoftBank (SFTBY.PK) for Universal Music. Analysts reacted with frustration to the report, as SoftBank's offer was $2-3B more than some of them reckon Universal is worth. While the French media and telecom conglomerate is under pressure to split itself up and has been looking to sell telecom operations, it views the music business as core. |Friday, Jul 194:45 AM| Comment!
Monday, May 275:27 AMEU telecom chief Neelie Kroes hopes to put together a package of reforms that will be approved before European Parliament elections in May next year. The plan is to foster a single market for the industry across the bloc, although Kroes is giving up on the idea of a single regulator following opposition from member states. |Monday, May 275:27 AM| Comment!
Wednesday, Mar 201:05 PMVivendi (VIVHY.PK) is thinking of spinning off its SFR French mobile phone unit, four sources tell Bloomberg. One proposal involves SFR, which made up ~40% of Vivendi's 2012 sales, assuming most of the conglomerate's debt. The sources caution a split could take 3-5 years to pull off, and would likely happen following the sale of Vivendi's 53% stake in Morocco's Maroc Telecom. Vivendi closed up 4.4% in Paris on the news; SFR rival France Telecom (FTE +3.1%) spiked higher, and is seeing decent gains in the U.S. |Wednesday, Mar 201:05 PM| 1 Comment
Thursday, Mar 146:42 PMDirecTV (DTV) is no longer in the running to buy Vivendi's (VIVHY.PK) Brazilian phone/Internet services unit, a spokesman states in an interview. The company was reportedly bidding with a slew of P-E firms for the business, which would have complemented its Latin American satellite TV ops. |Thursday, Mar 146:42 PM| Comment!
Friday, Sep 212012, 6:55 AMThe European Commission approves Universal Music's $1.9B acquisition of EMI's recorded music unit from Citigroup (C) after Universal promises to sell a host of labels, including Chrysalis, Mute and the iconic Parlophone. However, Universal will be able to keep the rights to the Beatles, which are part of Parlophone's catalog. (EU statement) |Friday, Sep 212012, 6:55 AM| 1 Comment
Friday, Aug 32012, 4:48 AMVivendi looks set to abandon plans for a quick sale of its 60% stake in Activision Blizzard (ATVI) after receiving no worthwhile offers for the computer gaming company, whose $13B value is too high for potential suitors, the FT reports. The speculation follows Activision's Q2 earnings beat yesterday. Vivendi is carrying out a broad review of its businesses and could sell Brazilian broadband operator GVT. |Friday, Aug 32012, 4:48 AM| Comment!
Thursday, Jun 72012, 3:49 PMVivendi (VIVHY.PK +2%) reportedly is considering reorganization options, including the potential sale of all or part of its 61% stake in videogame publisher Activision (ATVI -2.5%). Unclear is what Vivendi might do with any proceeds from selling the ATVI stake, who might be interested in buying it, or whether a such move would lead to an acquisition of the company in whole. |Thursday, Jun 72012, 3:49 PM| 2 Comments
Thursday, Apr 262012, 12:30 AMVivendi "vigorously" denies a Bloomberg report it's considering a reorganization that may result in the company's break-up, saying it learned "with stupefaction" of the "unfounded" claims. The rumor had sent Vivendi up 7.7% on the pink sheets before yesterday's close. |Thursday, Apr 262012, 12:30 AM| 2 Comments