Mediaset faces Vivendi and ISS opposition to merger plan

Mediaset is facing shareholder opposition to its plans to merge with its Spanish offshoot and create a new pan-European holding company based in the Netherlands, with Vivendi and proxy advisory firm ISS indicating they will oppose the proposal. Mediaset shareholders are set to meet on September 4 to vote on the plan to create the […]

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 […]

Mediaset accepts Simon Fiducaria demand for inclusion

Italian broadcaster Mediaset has accepted a demand by shareholder Simon Fiducaria to be included in the special list of shareholders that qualify for double voting rights, subject to the outcome of a judicial process initiated by Simon. Mediaset shareholder Vivendi placed all of its holding in the broadcaster above a 10% threshold in Simon Fiducaria […]

Canal+ ‘confident’  it will continue to air Ligue 1

Canal+ remains confident that it will still be able to distribute top-tier French football from 2020, when Spanish broadcaster Mediapro takes over the rights, according to Vivendi chief financial officer Hervé Philippe. Speaking on an earnings call after Vivendi posted its latest quarterly results last week, Philippe said that the pay TV broadcaster would retain […]

Canal+ domestic losses contribute to revenue decline

Canal+ continued to lose domestic subscribers in the quarter to June, weighing on its revenues. The group lost 68,000 subscribers in France over the quarter, contributing to a year-on-year reduction of 263,000. In terms of global subscriber numbers, French domestic losses were compensated by international gains, boosted by coverage of the Africa Cup of Nations, […]

Mediaset resists Vivendi’s move to call new shareholder meeting

Vivendi has secured a partial recognition by Mediaset of its claim to the right to participate in majority voting as a shareholder, subject to a legal ruling to come. However the Italian broadcaster has rejected its attempt to call a new extraordinary shareholders’ meeting to cancel a resolution approved in April giving long-term shareholders double […]

Mediaset hails court ruling against Vivendi’s Dailymotion

A Rome court has fined Vivendi-owned online video service Dailymotion €5.5 million for infringing Mediaset copyright by hosting some 995 videos without authorisation from 2006 onwards. The court also ordered Dailymotion to pay €100,000 in costs and imposed an additional penalty of €5,000 for each day that the offending videos remain on its site. The […]

Vivendi slams Mediaset internationalisation plan

Vivendi has explicitly criticised Mediaset’s plans to combine its Italian and Spanish units in a single Netherlands-based company as the foundation for the creation of a pan-European broadcast outfit. Vivendi, which directly holds a 9.6% stake in Mediaset and a further 19.9% through Simon Fiducaria, in which it was forced to vest the shares to […]

Canal+ to cut French workforce by 20%

Canal+ is to reduce its workforce by 20% in France as it struggles to regain ground in its home territory in the face of intensive competition. According to various press reports, the Vivendi-owned pay TV operator sent an email to employee representatives yesterday calling on them to attend a meeting on July 9 for consultation […]

Vivendi takes action and Mediaset moves to internationalise

Vivendi has taken legal action against Mediaset to assert its shareholder rights following attempts by the Italian broadcaster to block it from participating in shareholder meetings. Mediaset announced yesterday that it had received a writ of summons from Vivendi via a Milan court requesting the annulation of a resolution approved in April at an extraordinary […]

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