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BUSINESS
March 8, 2007 | From the Associated Press
Vivendi said its fourth-quarter profit dropped 51% from the year-earlier period, when the media and telecom company had a tax credit and asset sales. Vivendi, parent company of Universal Music, said it earned 610 million euros ($799 million) in the fourth quarter. The company raised its profit outlook, saying it expects 2007 adjusted net profit of at least 2.7 billion euros ($3.5 billion). Universal Music sales in the quarter dropped 1.5% to 1.66 billion euros ($2.19 billion).
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BUSINESS
December 4, 2008 | Meg James, James is a Times staff writer.
French media conglomerate Vivendi plans to keep its 20% stake in NBC Universal -- at least for another year. Vivendi's decision Wednesday not to exercise an option to sell its minority interest eases a potential headache for General Electric Co., which owns 80% of the television network, movie studio and theme park business. GE has the right to buy Vivendi's stake before it is offered to the public. For GE, the timing would not have been ideal. The Fairfield, Conn.
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BUSINESS
December 9, 2000 | From Bloomberg News
Canal Plus shareholders approved Vivendi's $9-billion acquisition of Europe's biggest pay-television company, the last step in the 147-year-old French utility's make-over into the world's No. 2 media company. The vote followed shareholder backing Tuesday of Vivendi's $30.2-billion purchase of Seagram Co., owner of Universal Music. Both purchases close today, and the company will begin trading as Vivendi Universal on Monday, Vivendi Chief Executive Jean-Marie Messier said.
BUSINESS
November 14, 2008 | The Associated Press
French media and telecommunications giant Vivendi said Thursday that profit increased more than fourfold in the third quarter, to 2.76 billion euros ($3.46 billion) from 578 million euros a year earlier, thanks to a gain of 2.32 billion euros on the dilution of its stake in video game publisher Vivendi Games. Vivendi Games merged with Activision in July to form Activision Blizzard Inc. of Santa Monica.
BUSINESS
July 10, 2002 | RICHARD VERRIER, TIMES STAFF WRITER
Vivendi Universal achieved a crucial first step toward averting a financial collapse by securing a key deal with its lenders, but the French entertainment giant now faces an investigation into how it has disclosed its complex finances. The investigation, which centers on whether the company disclosed its liquidity crisis in a timely fashion, will complicate efforts by new Chief Executive Jean-Rene Fourtou to restore investor confidence in Vivendi, whose stock value has fallen 70% this year.
NEWS
March 22, 1999 | DEBORA VRANA, TIMES STAFF WRITER
U.S. Filter Corp., the world's leading water and waste-water treatment company, on Sunday was negotiating a deal to be acquired by Vivendi, a leading French industrial group, sources said. Officials at U.S. Filter did not return phone calls seeking comment. Sources said a deal could be announced as early as today. On Wednesday, shares of U.S. Filter rose 20% to close at $29.94 a share in a flurry of trading on rumors that the company was a takeover candidate.
BUSINESS
November 14, 2008 | The Associated Press
French media and telecommunications giant Vivendi said Thursday that profit increased more than fourfold in the third quarter, to 2.76 billion euros ($3.46 billion) from 578 million euros a year earlier, thanks to a gain of 2.32 billion euros on the dilution of its stake in video game publisher Vivendi Games. Vivendi Games merged with Activision in July to form Activision Blizzard Inc. of Santa Monica.
BUSINESS
June 12, 2001 | Chuck Philips
In an apparent first-round victory for music conglomerates, a Los Angeles judge denied most of the arguments presented in rock star Courtney Love's attempt to break her contract with Vivendi Universal. Superior Court Judge Fumiko Wasserman denied 11 of 15 causes of action listed in Love's lawsuit, including her challenge to a provision in California's seven-year-statute that could have paved the way for recording artists to become free agents.
BUSINESS
December 13, 2001 | SALLIE HOFMEISTER,CLAUDIA ELLER and RICHARD VERRIER, TIMES STAFF WRITERS
Vivendi Universal is offering Barry Diller the reins of Universal Studios as part of the complicated negotiations between the French media conglomerate and Diller's USA Networks Inc. for the acquisition of USA's television and film assets, according to sources close to the deal.
BUSINESS
March 27, 2001 | Associated Press
French entertainment giant Vivendi Universal said it will exchange the 55% stake it held in Internet service provider AOL France for shares in AOL Europe. Under the agreement, Vivendi's mobile-phone unit Cegetel and its pay-television division Canal Plus will exchange their 55% share in AOL France for junior preferred shares in AOL Europe, valued at $725 million. AOL Europe will redeem the preferred shares in April 2003 with cash, publicly traded AOL Europe common stock or AOL Time Warner Inc.
BUSINESS
December 4, 2007 | From the Associated Press
Vivendi's planned acquisition of Activision Inc. would blend the companies' strengths but won't necessarily lead to cross-pollination among game developers. Santa Monica-based Activision, whose shares rose nearly 13% on the news, is strong in console games, with titles that include the music game "Guitar Hero III," the combat game "Call of Duty 4" and skateboarding games starring Tony Hawk. Vivendi Blizzard Entertainment Inc.
BUSINESS
November 15, 2007 | From Times Wire Services
French entertainment and telecommunications group Vivendi said its third-quarter profit fell 63% from a year earlier, when gains helped results. Net income dropped to 578 million euros ($845 million), the company said. Third-quarter results in 2006 were boosted by gains from the sale of shares in Veolia Environnement. Revenue for the Paris company, which owns Universal Music Group, rose 11% to 5.42 billion euros ($7.91 billion).
BUSINESS
April 11, 2007 | From Bloomberg News
Edgar Bronfman Jr., who sold Seagram Co. to Vivendi for $34 billion in 2000, sued the French company in federal court in New York, claiming that it owed him a bigger pension. Bronfman, chief executive of Warner Music Group Corp., says that Vivendi is crediting him for only 20 years of service, ignoring 15 additional years to which he is entitled. An attorney for Bronfman declined to say how much his client claimed he was owed.
BUSINESS
March 8, 2007 | From the Associated Press
Vivendi said its fourth-quarter profit dropped 51% from the year-earlier period, when the media and telecom company had a tax credit and asset sales. Vivendi, parent company of Universal Music, said it earned 610 million euros ($799 million) in the fourth quarter. The company raised its profit outlook, saying it expects 2007 adjusted net profit of at least 2.7 billion euros ($3.5 billion). Universal Music sales in the quarter dropped 1.5% to 1.66 billion euros ($2.19 billion).
BUSINESS
February 1, 2007 | From the Associated Press
Vivendi reported a modest 1.2% rise in fourth-quarter revenue as stronger results from video games helped make up for lower sales at its Universal Music and SFR mobile phone units. The French media and telecommunications company reported fourth-quarter revenue of 5.55 billion euros ($7.19 billion), up from 5.48 billion euros a year earlier. The figure fell short of the 5.65-billion-euro average estimate by 10 analysts surveyed by Dow Jones Newswires.
BUSINESS
November 17, 2006 | From the Associated Press
Vivendi, the French media and telecom company, said third-quarter net profit more than doubled on a one-time gain while a strong performance by its pay television business helped operating profit rise 21%. Vivendi reported net profit of 1.56 billion euros ($2 billion) for July to September, compared with 646 million euros in the year-earlier period. Earnings before interest, taxes and amortization, a measure of operating profit, rose to 1.3 billion euros from 1.08 billion euros.
BUSINESS
March 5, 2001 | From Bloomberg News
Vivendi Universal is close to selling its stake in AOL France back to its former partner for at least $700 million, people familiar with the transaction said Sunday. Vivendi would accept either stock or cash for the 55% stake over two to three years, the sources said. Jean-Marie Messier, Vivendi's chief, said last week that an agreement could be announced in "a matter of days, or even hours." Vivendi, which bought Universal Music's owner, Seagram Co.
BUSINESS
September 6, 2001 | Bloomberg News
Vivendi Universal has no plans to buy a stake in Yahoo Inc., as it's satisfied with the alliances it has with the most-used site for searching the Internet, said Chief Executive Jean-Marie Messier. Vivendi Universal never held talks about buying part or all of Yahoo, he said, adding that he was responding to market speculation. Vivendi Universal, which is forming ventures to sell music online, has agreements with Yahoo and Microsoft Corp.'s MSN Network to distribute its music over the Web.
BUSINESS
November 7, 2006 | From the Associated Press
Vivendi shares fell after the French media and telecommunications group said talks on a possible buyout offer from investment fund Kohlberg Kravis Roberts & Co. had ended without a firm proposal. Shares in Vivendi fell 1% to 30.03 euros ($38.21) in Paris on news that it would not be pursuing the offer. Vivendi has for months been the subject of rumors of an impending bid. Its operations include mobile and fixed-line phone services, video games, pay television and music.
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