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In what has been called a bidding circus, the number of suitors interested in Vivendi Universal's distressed media holdings has grown steadily. Vivendi wants to sell almost all its media interests, especially those in the U.S. The company is planning on retaining perhaps only European Television network Canal Plus and its telecom interests.
Here's a brief chronology of Vivendi's wild ride:
French water company Vivendi decided in the late 90s to get into the media business in a big way. In 2000, the company bought two major properties, Canal Plus, a major European cable channel, and Seagram's, which in addition to its liquor business, at that time owned MCA Universal Studios and Polygram Records. Vivendi sold off the liquor assets,
It alter acquired Barry Diller's USA Networks, which included Universal's former TV holdings.
By 2002, faced with record losses for a French company, the Vivendi chairman was ousted.
At the end of the year, the company split off its water interests into a company called Vivendi Environement, and its entertainment and media into a company called Vivendi Universal.
In 2003, the holding of the Vivendi Universal media corporation went on the block.
VIvendi Universal sold its publishing divisions, Houghton-Mifflin and Consumer Press Division (Groupe Express-Expansion-l'Etudiant), Canal Plus Technologies (a European Satellite TV provider), the Seagram Art Collection, and some telecom properties.
Vivendi Environement changed its name to Veolia Environement, presumably to wash away the taint of the Vivendi name.
Vivendi posts first quarter losses.
Accounted among the possible buyers are the following:
Liberty Media Corporation (Discovery, QVC)
General Electric (NBC)
Viacom (CBS)
Marvin Davis (a billionaire oilman with a consortium behind him, once the owner of Twentieth-Century Fox)
Barry Diller, the man Vivendi bought USA Networks from, and until recently a vice-president)
Edgar Bronfman, Jr., (the man originally Vivendi bought Universal from)
The last two are especially interesting. Diller (quoted here) is in the midst of a legal wrangle with Vivendi, and he may have some say on who gets what. He is now head of USA Interactive, a company that owns a number of Internet sites.
Bronfman has an even longer history. He acquired MCA (Universal) and Polygram Records in the 1990s to create his own media empire. Then he sold them to Vivendi, partly in return for shares of Vivendi stock. That stock has sunk in value over the last two years. He has also gotten backers: Wachovia Investments, Merrill-Lynch, midrange cable player Cablevision, which would get a substantial chunk of stock in return for its cable channels, including American Movie Channel and Independent Film Channel -- but astonishingly enough no money or stock. Some have made jokes about the strange alliance of two second generation owners, Bronfman and Cablevision's Jimmy Dolan, who have already managed to lose billions for their respective families.
It looks like the whole bundle may go for $15 billion along with the assumption of $5 billion of debt. That contrasts with the $34 billion Vivendi paid for the Seagram's assets three years ago, minus $8 billion from the saie of the liquor assets.
While all the suitors want at least some pieces of the Vivendi Universal company. But few want the music division, UMG, the largest recording company in the world with a 30% market share. UMG saw revenues decline by 20% in the first quarter 2003. Thanks to the continuing losses in the music industry, its worth is declining, and with Warner Music up for sale, the situation has gotten worse.
Current vivendi Universal holdings:
Area Vivendi Universal Division Brands Notes
Film Universal Studios The Hulk, Eight Mile, etc. $4 billion a year
Television Universal Television Productions Just Shoot Me, Law & Order, etc.
US Cable USA Network, Sci-Fi Channel
European cable Canal Plus, TRIO, Newsworld In nearly a dozen countries
StudioCanal The Pianist, etc.
Entertainment Univerasl Parks & Resorts US, Spain, Japan
Sega Gameworks 50%; Video arcades
Vivendi/Blizzard Diablo, Wracraft Computer games
Music Universal Music Group Labels: Barclay. Interscope Geffen A & M (Eminem, U2, Limp Bizkit), Island def Jam (Jay Z, Ashanti), MCA Nashville (Vince Gill, Trish Yearwood); MCA Records (Shaggy, Mary J. Bilge); Mercury Nashville (Shania Twain, Willie Nelson); Motown (Brian McKnight); Universal Music Classic Group (Andrea Bocelli, Placido Domingo; Decca; Deutsche Grammophon; Universal Records (Nelly, Elton John); Verve Music Group #1 recording company in world, 30% of market
Universal Music Publishing Group Over 1 million songs from Rogers & Hammerstein to Nelly #1 in world
Internet VUNet Music Sites: MP3.com (free music site); Emusic (pay music site); Game sites: Flipside.com, Uproar.com, iWin.com and Virtualvegas.com; Education site: education.com; Portals: I(france), I(suisse), I(quebec), etc.; Movie reservations: Allociné
Communications Cegetel France's largets private phone supplier
SFR 13,2 million cellular subscribers in France
Miscellanous holdings Morocco, Italy
Water 20% of Veolia Environement
Current Veolia holdings:
Veolia Environements Divisions Notes
Veolia Water Formerly Vivendi Water; water and waste treatment in 100 countries
Onyx Water Management
USFilter Water purification equipment
Culligan Water filters, desalination
_------------------------------------------------------_
They own alot of stuff guys. Do you think little old Valve and their silly video game are on the top of Vivendis list?
If you thought the times HL2 is in now are bad. Get ready. The coming month is going to be horrendous. We're going to get even more angry and frustrated than we are now. :angry:
*edit - incase anyone wants the source. I don't want people to think I wrote all that out. For giving credit where credit is due I give you http://www.oligopolywatch.com/2003/05/23.html **
Here's a brief chronology of Vivendi's wild ride:
French water company Vivendi decided in the late 90s to get into the media business in a big way. In 2000, the company bought two major properties, Canal Plus, a major European cable channel, and Seagram's, which in addition to its liquor business, at that time owned MCA Universal Studios and Polygram Records. Vivendi sold off the liquor assets,
It alter acquired Barry Diller's USA Networks, which included Universal's former TV holdings.
By 2002, faced with record losses for a French company, the Vivendi chairman was ousted.
At the end of the year, the company split off its water interests into a company called Vivendi Environement, and its entertainment and media into a company called Vivendi Universal.
In 2003, the holding of the Vivendi Universal media corporation went on the block.
VIvendi Universal sold its publishing divisions, Houghton-Mifflin and Consumer Press Division (Groupe Express-Expansion-l'Etudiant), Canal Plus Technologies (a European Satellite TV provider), the Seagram Art Collection, and some telecom properties.
Vivendi Environement changed its name to Veolia Environement, presumably to wash away the taint of the Vivendi name.
Vivendi posts first quarter losses.
Accounted among the possible buyers are the following:
Liberty Media Corporation (Discovery, QVC)
General Electric (NBC)
Viacom (CBS)
Marvin Davis (a billionaire oilman with a consortium behind him, once the owner of Twentieth-Century Fox)
Barry Diller, the man Vivendi bought USA Networks from, and until recently a vice-president)
Edgar Bronfman, Jr., (the man originally Vivendi bought Universal from)
The last two are especially interesting. Diller (quoted here) is in the midst of a legal wrangle with Vivendi, and he may have some say on who gets what. He is now head of USA Interactive, a company that owns a number of Internet sites.
Bronfman has an even longer history. He acquired MCA (Universal) and Polygram Records in the 1990s to create his own media empire. Then he sold them to Vivendi, partly in return for shares of Vivendi stock. That stock has sunk in value over the last two years. He has also gotten backers: Wachovia Investments, Merrill-Lynch, midrange cable player Cablevision, which would get a substantial chunk of stock in return for its cable channels, including American Movie Channel and Independent Film Channel -- but astonishingly enough no money or stock. Some have made jokes about the strange alliance of two second generation owners, Bronfman and Cablevision's Jimmy Dolan, who have already managed to lose billions for their respective families.
It looks like the whole bundle may go for $15 billion along with the assumption of $5 billion of debt. That contrasts with the $34 billion Vivendi paid for the Seagram's assets three years ago, minus $8 billion from the saie of the liquor assets.
While all the suitors want at least some pieces of the Vivendi Universal company. But few want the music division, UMG, the largest recording company in the world with a 30% market share. UMG saw revenues decline by 20% in the first quarter 2003. Thanks to the continuing losses in the music industry, its worth is declining, and with Warner Music up for sale, the situation has gotten worse.
Current vivendi Universal holdings:
Area Vivendi Universal Division Brands Notes
Film Universal Studios The Hulk, Eight Mile, etc. $4 billion a year
Television Universal Television Productions Just Shoot Me, Law & Order, etc.
US Cable USA Network, Sci-Fi Channel
European cable Canal Plus, TRIO, Newsworld In nearly a dozen countries
StudioCanal The Pianist, etc.
Entertainment Univerasl Parks & Resorts US, Spain, Japan
Sega Gameworks 50%; Video arcades
Vivendi/Blizzard Diablo, Wracraft Computer games
Music Universal Music Group Labels: Barclay. Interscope Geffen A & M (Eminem, U2, Limp Bizkit), Island def Jam (Jay Z, Ashanti), MCA Nashville (Vince Gill, Trish Yearwood); MCA Records (Shaggy, Mary J. Bilge); Mercury Nashville (Shania Twain, Willie Nelson); Motown (Brian McKnight); Universal Music Classic Group (Andrea Bocelli, Placido Domingo; Decca; Deutsche Grammophon; Universal Records (Nelly, Elton John); Verve Music Group #1 recording company in world, 30% of market
Universal Music Publishing Group Over 1 million songs from Rogers & Hammerstein to Nelly #1 in world
Internet VUNet Music Sites: MP3.com (free music site); Emusic (pay music site); Game sites: Flipside.com, Uproar.com, iWin.com and Virtualvegas.com; Education site: education.com; Portals: I(france), I(suisse), I(quebec), etc.; Movie reservations: Allociné
Communications Cegetel France's largets private phone supplier
SFR 13,2 million cellular subscribers in France
Miscellanous holdings Morocco, Italy
Water 20% of Veolia Environement
Current Veolia holdings:
Veolia Environements Divisions Notes
Veolia Water Formerly Vivendi Water; water and waste treatment in 100 countries
Onyx Water Management
USFilter Water purification equipment
Culligan Water filters, desalination
_------------------------------------------------------_
They own alot of stuff guys. Do you think little old Valve and their silly video game are on the top of Vivendis list?
If you thought the times HL2 is in now are bad. Get ready. The coming month is going to be horrendous. We're going to get even more angry and frustrated than we are now. :angry:
*edit - incase anyone wants the source. I don't want people to think I wrote all that out. For giving credit where credit is due I give you http://www.oligopolywatch.com/2003/05/23.html **
