February 24, 2004 |
Vivendi Universal said allegations by an association of small shareholders that minutes of a board meeting were falsified were "completely groundless" and "libelous." The group, called Appac, has filed a complaint claiming the company's senior management forged documents. "There are no inconsistencies or falsifications in the minutes or extracts of minutes," Vivendi said.
March 25, 2004 |
Vivendi Universal's suit to force media mogul Barry Diller to get out of the way of a deal with NBC will go to trial in Delaware Chancery Court in May, after a ruling from the judge overseeing the case. Vice Chancellor Stephen Lamb granted Vivendi's request to expedite the matter, which the company said must be resolved before its U.S. unit, which includes the movie and TV studios, could be bought by NBC.
January 24, 2004 |
Launching a surprising raid on the world's biggest record company, Edgar Bronfman Jr. is close to signing Vivendi Universal rap mogul Lyor Cohen to a top post at the newly constituted Warner Music Group, sources said Friday. The deal -- which is said to include an equity stake in Warner for Cohen -- could be announced as soon as this weekend.
January 1, 2004 |
General Electric Co.'s NBC unit said a second request for information by U.S. antitrust regulators about its planned purchase of Vivendi Universal's U.S. entertainment assets was part of a normal review process. NBC was responding to an article in USA Today that said the Federal Trade Commission was concerned that the combined company might boost fees paid by cable operators to license programming.
November 18, 2004 |
Vivendi Universal raised its 2004 earnings forecast after performances by its music and telecommunications units powered a more than fivefold increase in third-quarter profit. Net income was 776 million euros ($956.9 million), the French media and telecommunications group said, up from 131 million euros a year ago. Revenue fell to 4.70 billion euros ($5.8 billion) from 5.90 billion euros in part because of the sale of its U.S. entertainment businesses to General Electric Co.
September 15, 2004 |
Vivendi Universal's recovery is almost complete, the French media and telecommunications giant said, despite a massive second-quarter net loss bloated by the effects of the weaker U.S. dollar. Two years after an ill-fated acquisition spree took it close to collapse, Vivendi unveiled sharply improved second-quarter operating profit at its music and pay TV divisions as they emerge from restructuring. But Vivendi's net loss increased more than sevenfold to $2.26 billion in the April-to-June period.
May 28, 2004 |
Vivendi Universal said its first-quarter loss narrowed to $7.3 million from $344 million a year earlier. Revenue declined 4% to $7.3 billion, the French conglomerate said. Earnings rose 15% to $298 million at Vivendi Universal Entertainment, the company's U.S. movie and TV affiliate, mostly because of results from its Universal Television Group and improvements at its Universal Parks and Resorts division. Operating income at Universal Pictures Group was down 13%.
August 19, 2003 |
Three of the original six suitors for Vivendi Universal's U.S. entertainment assets met Monday's deadline for second-round bids, but the company wouldn't say whether they reached its hotly debated minimum asking price of $14 billion. As expected, John Malone's Liberty Media Corp. and a consortium headed by Vivendi Vice Chairman Edgar Bronfman Jr. submitted offers for Universal's movie studio, theme parks and TV businesses. The third bidder was General Electric Co.'
August 27, 2003 |
Following a much-anticipated board meeting Tuesday to weigh offers for its entertainment assets, Vivendi Universal found itself in basically the same situation it had been in the day before. After a four-hour meeting in Paris, the board issued a statement saying it had decided to enter into further negotiations with "the two strongest bidders": General Electric Co.'s NBC and a group headed by Vivendi Vice Chairman Edgar Bronfman Jr.