VIV.PA - Vivendi SA

Paris - Paris Delayed price. Currency in EUR
25.24
-0.06 (-0.24%)
At close: 5:36PM CET
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Previous close25.30
Open25.28
Bid0.00 x 0
Ask0.00 x 0
Day's range25.11 - 25.33
52-week range23.35 - 26.69
Volume1,579,085
Avg. volume2,656,166
Market cap29.351B
Beta (5Y monthly)0.59
PE ratio (TTM)19.72
EPS (TTM)1.28
Earnings date13 Feb 2020
Forward dividend & yield0.50 (1.98%)
Ex-dividend date16 Apr 2019
1y target est24.84
  • Spanish court upholds block on Mediaset merger plan
    Reuters

    Spanish court upholds block on Mediaset merger plan

    MADRID/MILAN (Reuters) - A regional court in Madrid has upheld the suspension of broadcaster Mediaset's plan to merge its Italian and Spanish divisions under a Dutch holding company after rejecting the Italian company's appeal, a document seen by Reuters showed on Monday. Mediaset, controlled by the family of former Prime Minister Silvio Berlusconi wants to merge its Italian and Spanish units under the Dutch holding firm MediaforEurope (MFE). Vivendi, led by French billionaire Vincent Bollore, says the governance structure of the new entity would strengthen Berlusconi's grip on the company.

  • Business Wire

    Vivendi: Strong Earnings Growth In 2019

    Regulatory News:

  • Vivendi plans IPO of Universal by early 2023 at the latest
    Reuters

    Vivendi plans IPO of Universal by early 2023 at the latest

    French media conglomerate Vivendi said on Thursday it planned to list its most-prized asset, Universal Music Group, by early 2023 at the latest, following a year of record profit for the division. This represents a new milestone in a two-year process launched by Vivendi's top investor, Vincent Bollore, to make the most of the world's biggest music label, home to artists Taylor Swift, Drake and Lady Gaga. Chief Executive Officer Arnaud de Puyfontaine declined to give further details on the potential IPO but said Universal's stellar performance could draw further interest from investors.

  • Mediaset set to win more time to complete merger of Italy, Spain units - sources
    Reuters

    Mediaset set to win more time to complete merger of Italy, Spain units - sources

    Mediaset will submit revised plans to merge its Italian and Spanish broadcasting units under a Dutch entity to authorities in the Netherlands, securing a six-month extension to complete the project, two sources familiar with the matter said. The extension could help the group deal with any potential delay triggered by shareholder Vivendi's legal challenges to the merger. Mediaset, controlled by the family of former Italian Prime Minister Silvio Berlusconi, wants to merge the units under a Dutch holding company, called MediaforEurope (MFE), to pursue a European growth strategy.

  • Mediaset set to win more time to complete merger of Italy, Spain units: sources
    Reuters

    Mediaset set to win more time to complete merger of Italy, Spain units: sources

    Mediaset will submit revised plans to merge its Italian and Spanish broadcasting units under a Dutch entity to authorities in the Netherlands, securing a six-month extension to complete the project, two sources familiar with the matter said. The extension could help the group deal with any potential delay triggered by shareholder Vivendi's legal challenges to the merger. Mediaset, controlled by the family of former Italian Prime Minister Silvio Berlusconi, wants to merge the units under a Dutch holding company, called MediaforEurope (MFE), to pursue a European growth strategy.

  • Cardi B’s Record Label Warner Music Files for Share Sale
    Bloomberg

    Cardi B’s Record Label Warner Music Files for Share Sale

    (Bloomberg) -- Warner Music Group Corp., the record group behind artists such as Cardi B, Ed Sheeran and Bruno Mars, filed for an initial public offering -- becoming the latest music company to cash in on the streaming boom.Backed by billionaire Len Blavatnik, New York-based Warner Music filed for an offering of $100 million. But that’s a placeholder sum used to calculate fees and is most likely to change.Blavatnik and other investors didn’t indicate in the filing how much stock they’ll be selling. But they are expected to retain control, while allowing Warner Music to raise funds for acquisitions and other deals, according to a person with knowledge of the matter who asked not to be identified.Music sales have surged in recent years thanks to the growth of paid streaming services from Spotify Technology SA and Apple Inc. That’s boosted the value of music companies and enticed investors back to the record industry.Vivendi SA agreed last year to sell a minority stake in Universal Music Group, the world’s largest music company, to a group led by China’s Tencent Holdings Ltd. That transaction valued the business at about $33.6 billion.Blavatnik, a Ukrainian-American, has a net worth an estimated $25.1 billion, according to the Bloomberg Billionaires Index. He bought Warner Music for $1.3 billion in 2011, when the music industry was in the depths of a 15-year decline. The proliferation of free and cheap music on the internet had destroyed sales.Good TimingThe timing was propitious. The company’s sales have climbed by 50% since 2015. The company reported net income of $258 million in fiscal 2019 on revenue of $4.48 billion. Apple and Spotify account for 27% of that revenue, according to the filing.“We adapted to streaming faster than other major music entertainment companies and, in 2016, were the first such company to report that streaming was the largest source of our recorded music revenue,” the company said in a filing.Morgan Stanley, Credit Suisse Group AG and Goldman Sachs Group Inc. are advising on the IPO.Famous LabelsWarner markets its music through labels such as Atlantic Records, Warner Records and Parlophone. It also owns Warner Chappell, a music publishing business. While the labels work with recording artists, publishers represent songwriters. Songwriters signed to Warner Chappell include Lizzo and Katy Perry. Recorded music made up 86% Warner Music’s sales last year, but publishing is a stable, profitable business.For a few years now, private equity investors have been paying high prices for closely held record labels and publishing outfits, betting on a long recovery for the industry.But there have been few opportunities for public investors, with the notable exception of the May 2018 public offering by Spotify, the world’s largest paid music service. Warner Music has been privately owned, while the two larger music companies, Universal and Sony Music Entertainment, are divisions of larger media and technology companies.“Looking into the future,” Warner Music said, “we believe the universe of opportunities will continue to expand, including through the proliferation of new devices such as smart speakers and the monetization of music on social media and other platforms.”(Updates with details of filing starting in third paragraph)\--With assistance from Elizabeth Fournier.To contact the reporter on this story: Lucas Shaw in Los Angeles at lshaw31@bloomberg.netTo contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, Rob GolumFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Vivendi may take further legal action against Mediaset in pan European merger
    Reuters

    Vivendi may take further legal action against Mediaset in pan European merger

    French media group Vivendi may take further legal action against Italy's Mediaset if it continues with a plan to merge its Italian and Spanish units, Vivendi's representative in Mediaset Espana Vincent Vallejo said on Wednesday. Controlled by the family of former Italian prime minister Silvio Berlusconi, Mediaset approved a merger of its Italian and Spanish units under a Dutch holding company called MediaforEurope (MFE) last September.

  • Italian judge backs Mediaset in TV battle with Vivendi
    Reuters

    Italian judge backs Mediaset in TV battle with Vivendi

    A Milan judge rejected a request by France's Vivendi to suspend a planned reorganisation at Mediaset, the companies said on Monday, potentially boosting the Italian broadcaster's European expansion strategy. Controlled by the family of former Italian prime minister Silvio Berlusconi, Mediaset approved a merger of its Italian and Spanish units under a Dutch holding company, called MediaforEurope (MFE) last September. As things stand, the reorganisation remains on hold because a Spanish judge last year ruled in favour of Vivendi's request to suspend it.

  • Italian judge to rule on Mediaset's TV project as early as next week - sources
    Reuters

    Italian judge to rule on Mediaset's TV project as early as next week - sources

    An Italian judge is set to decide as early as next week on a request by French media group Vivendi to suspend a planned reorganization at Italian broadcaster Mediaset , four legal sources said after a closed-door hearing on Saturday. Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Mediaset wants to merge its Italian and Spanish units into a Dutch entity, dubbed MediaforEurope (MFE). In an effort to push through the plan, Mediaset shareholders approved changes to MFE's bylaws on Jan. 10, as suggested by the Milan court.

  • Italian court to wait until Feb. 1 to rule on Mediaset pan-European TV plan
    Reuters

    Italian court to wait until Feb. 1 to rule on Mediaset pan-European TV plan

    An Italian judge will wait until Feb. 1 at the earliest before ruling on a request by France’s Vivendi to suspend a planned reorganisation at Italian broadcaster Mediaset, two legal sources said on Tuesday. Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Mediaset wants to merge its Italian and Spanish units into a Dutch entity, dubbed MediaforEurope (MFE). In an effort to smooth the plan, Mediaset shareholders approved changes to MFE's bylaws on Jan. 10, as suggested by the Milan court.

  • What Does Vivendi SA's (EPA:VIV) P/E Ratio Tell You?
    Simply Wall St.

    What Does Vivendi SA's (EPA:VIV) P/E Ratio Tell You?

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • Reuters

    Mediaset approves changes to keep pan-European TV plan afloat

    Italy's Mediaset on Friday won shareholder approval for governance tweaks needed to smooth a pan-European expansion plan despite opposition from its second-biggest investor Vivendi, which is fighting the project in court. Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Mediaset last year approved a plan to merge its businesses in Italy and Spain under a Dutch-based company, called MediaForEurope (MFE).

  • Reuters

    Italian court turns down Vivendi's request to suspend freeze on Mediaset stake

    An Italian court has thrown out a request by Vivendi to suspend a ruling forcing it to freeze two-thirds of its stake in Italian broadcaster Mediaset , a court document showed on Thursday. The decision comes a day before a Mediaset shareholder meeting to vote on governance tweaks to a Dutch holding company set up by Mediaset to pursue tie-ups with European peers.. Vivendi opposes Mediaset's plans on the grounds the changes would give Mediaset's main shareholder, the Berlusconi family, too much power.

  • Vivendi Shareholders Finally Hear a Sweet Tune
    Bloomberg

    Vivendi Shareholders Finally Hear a Sweet Tune

    (Bloomberg Opinion) -- Vivendi SA investors should be sighing with relief.The French media conglomerate announced on Tuesday that it plans to sell 10% of its Universal Music Group record label to a group led by Tencent Holdings Ltd., the Chinese internet giant. The 3 billion euro purchase ($3.4 billion) implies an equity valuation of 30 billion euros for all of UMG, as the music business is known. As my Bloomberg Opinion colleague Alex Webb wrote in August, Vivendi should gain strategic and financial advantage from the alliance with Tencent.Shareholders of Vivendi should be smiling that a deal got done at all. Vivendi first announced in mid-2018 plans to sell as much as half of UMG, which is home to musicians such as Drake and Lady Gaga. The process didn’t move quickly or in a straight line.Earlier this year, private equity investors and sovereign wealth funds became annoyed over what some potential suitors saw as a pricey deal and the slow pace of negotiations. That left fewer potential investors for UMG. Rich technology companies with an interest in music, including Google and Amazon.com Inc., were unlikely investors for UMG.When it announced the Tencent deal on Tuesday, Vivendi said it would look to sell a further minority stake at the price agreed to by Tencent or higher. The Tencent-led group has the option to buy up to 10% more of UMG in the next year at the same price. Vivendi, in short, has now set a floor on the value of UMG, and by extrapolation for Vivendi at large.Vivendi shares in Paris inched up slightly after the announced investment. Vivendi’s total market capitalization of about 30.6 billion euros implies that assets accounting for about 55% of Vivendi’s revenue — including the Canal+ broadcast group, the Havas advertising agency and a collection of publishing companies — are essentially valued at almost zero. The conglomerate discount on Vivendi and its mercurial controlling shareholder Vincent Bollore is likely to persist.UMG and the rest of the Big Three music labels — Warner Music Group Corp. and Sony Music Entertainment — remain in an odd spot. Technology changes that wrecked their business models have now helped revive them, but there is much more potentially wrenching change to come in the industry.Paid streaming music services such as Spotify and others have helped global record label revenue grow significantly for the first time since the 1990s, but industry revenue remains lower than it was at the peak of CD popularity more than 15 years ago. The record labels remain in a constant tug-of-war with technology companies that want to license music for apps such as TikTok and for internet services that are both expressly devoted to music and those that are not, including YouTube, which by some measure is the most popular music-listening spot in the world.Meanwhile, Spotify and other young streaming companies are trying slowly to cut out the record labels and strike deals directly with musicians. Streaming music companies constantly want to lower the fees they pay labels for the rights to songs; the music majors are constantly fighting for higher rates. Those strategic challenges won’t go away, nor will the imperative for the music industry to structurally change a business model still built in many way for the old mode of artist discovery, promotion and publishing. But Vivendi’s new partner can be a useful ally for a UMG’s expansion in China, a lucrative but tricky market for foreign music companies. Asia represented just 13% of UMG’s 2018 sales.Among Tencent’s large roster of investments is the separately listed streaming music service Tencent Music Entertainment. U.S.-listed depository receipts of that company rose 3% in early market trading Tuesday. Tencent Music is part of the consortium that is buying the stake in UMG and will have an option to buy a minority stake in UMG’s China business.The big price tag for Universal Music is a testament to the improving fortunes of the music industry. Once written off as has-beens, the music majors are in a better position than they have been for years. The question now for Vivendi investors is whether the Tencent deal will mark a new lucrative phase for Universal and other music industry powers, or if it’s a sign of a peak. To contact the author of this story: Shira Ovide at sovide@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2020 Bloomberg L.P.

  • Tencent Group Buys 10% of Universal Music for $3.4 Billion
    Bloomberg

    Tencent Group Buys 10% of Universal Music for $3.4 Billion

    (Bloomberg) -- A consortium led by China’s Tencent Holdings Ltd. agreed to buy 10% of Universal Music Group from French media company Vivendi SA after months of talks.The deal values the world’s biggest music company at 30 billion euros ($33.6 billion). Tencent and its partners can increase their stake to as much as 20% at the same valuation until Jan. 15, 2021, the companies said in statements on Tuesday.With the Chinese social media and gaming giant now officially on board, other potential investors may look at Universal Music. That would energize a sale process that seemed to be dragging along since Vivendi first announced plans to sell as much as half the business in July 2018.Read Bloomberg Opinion's view on what the deal says about the music industryNegotiations will now begin over the potential sale of a further minority stake at a price “which would at least be identical” to the deal with Tencent, Vivendi said. Shares of the company rose 0.4% as of 12:08 p.m. in Paris.Vivendi is cashing in on a boom in subscription music streaming that’s inflated the value of its back catalog and a roster of stars including Taylor Swift, U2, Drake and Post Malone. Record company sales have jumped by an average 7% annually since 2014 and streaming has become the industry’s biggest source of revenue.Asia ChallengesHowever, there are signs that streaming growth is beginning to slow in Europe and North America, while in Asia, music labels face continued piracy and regional rivals especially attuned to local tastes. Tencent could help Universal Music get closer to Asian audiences.The companies didn’t name the other Tencent consortium members. Hillhouse Capital and Singapore’s sovereign wealth fund GIC Pte. were among potential investors that the Chinese tech giant approached, people with knowledge of the matter told Bloomberg News in November. Vivendi first disclosed the talks with Tencent in August.The deal brings some good news for Vivendi at the end of a frustrating year for its largest shareholder, billionaire Vincent Bollore. Other Vivendi businesses such as advertising and pay-television are contending with competitive threats from digital rivals and the group’s investments in Italy have been bogged down in boardroom battles and legal fights.Some analysts had criticized the slow pace of the Universal Music sale process and questioned the price demanded by Vivendi. The idea of a partial disposal of the business or an initial public offering has been mooted since 2017.(Updates with context on music industry’s Asia challenge from sixth paragraph)To contact the reporter on this story: Thomas Pfeiffer in London at tpfeiffer3@bloomberg.netTo contact the editors responsible for this story: Rebecca Penty at rpenty@bloomberg.net, Andrew NoëlFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Tencent gets into global groove with stake in Vivendi's Universal
    Reuters

    Tencent gets into global groove with stake in Vivendi's Universal

    PARIS/HONG KONG (Reuters) - A Tencent-led consortium is taking a 10% stake in Vivendi's Universal Music Group, valuing the music label that houses Lady Gaga and The Beatles at 30 billion euros ($34 billion) and giving the Chinese firm a global backstage pass. The deal allows both companies to expand in a recovering global music market, giving Tencent more access to U.S. artists while UMG can tap into the Asian market, including big-selling "K-Pop" Korean pop stars. After months of talks, French media conglomerate Vivendi said on Tuesday it had finalised the sale of an initial 10% of the world's largest music label to the Tencent consortium, which also had the option to buy up to 10% more by January 2021 on the same price basis.

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