Universal Music Group

UMG label Deutsche Grammophon launches classical music streamer Stage+

Deutsche Grammophon, a division of Universal Music Group (UMG), is launching STAGE+, a ground-breaking classical music subscription service, offering livestreams, a huge video archive and new audio releases – all on one platform. According to Deutsche Grammophon, STAGE+, subscribers will be “brought closer than ever before to UMG’s roster of world-class artists and beyond, via […]

Vivendi sells UMG stake for US$1.149 billion

Vivendi has sold a small stake in Universal Music Group for over US$1 billion. The French media group, which owns broadcaster Canal+, confirmed the sale of a 2.9% stake to American hedge fund manager Bill Ackman’s Pershing Square.  The US$1.149 billion sale is based on an enterprise value of US$41.40 billion for Universal Music Group. […]

Canal+ becoming ‘aggregator of apps’, international subs now in majority

Canal+ is “evolving from an aggregator of content to an aggregator of apps” through distribution deals with the likes of Netflix that will establish the pay TV operator as “as the best gateway to the content most desired by French customers”, according to Vivendi CEO Arnaud de Puyfontaine. De Puyfontaine, speaking to analysts after Vivendi […]

Tencent to take 10% stake in Vivendi’s music arm, with more likely

French media giant Vivendi has signed its deal with a consortium led by China’s Tencent giving the latter a 10% stake in Vivendi’s most successful operating unit, Universal Music Group (UMG). The deal, which gives UMG a total enterprise value of €30 billion, also gives the consortium an option to acquire an additional stake of […]

Vivendi opens talks with Tencent to sell Universal Music stake

Canal+ owner Vivendi has entered into preliminary talks to sell a 10% stake in Universal Music Group to China’s Tencent in a move that gives the music outfit a valuation of €30 billion. According to Vivendi, a deal would give Tencent a one-year call option to acquire an additional 10% at the same price and […]

African growth helps offset domestic decline at Canal+

Strong revenue growth in Africa helped to partially offset a continued precipitous decline in pay TV operator Canal+’s fortunes in France in the third quarter and for the first nine months of the year, contributing to a relatively strong showing for parent group Vivendi. For the full nine-months period, Canal+’s revenues fell by 2.7% in […]

Vivendi taking 26% stake in Banijay-Zodiak

Vivendi has signed an agreement to take a 26.2% stake in the new production company resulting from the combination of Banijay Group and Zodiak Media. Vivendi had previously confirmed it was in talks to take a minority stake in the production outfit. The Banijay-Zodiak transaction, scheduled to complete in the first half of next year, […]

Vivendi agrees extra dividend and makes peace with hedge fund

Vivendi and activist hedge fund P. Schoenfeld Asset Management have settled their dispute over Vivendi’s cash return policies, with the French media giant agreeing to pay out approximately €6.75 billion to shareholders thanks to an exceptional dividend. Schoenfeld for its part has agreed to accept Vivendi’s core media strategy, abandoning its call for the sale […]

Vevo owners mull sale options

The owners of music video hosting service Vevo are reportedly close to hiring Goldman Sachs to look at sale options for the company. According to Bloomberg, citing three unnamed sources, Vevo’s shareholders are exploring options including the sale of a majority stake in the company. Vevo is owned jointly by Vivendi’s Universal Music Group, Sony […]