PARIS -French media large Vivendi’s first-quarter gross sales grew by 7.9% at fixed change charges and excluding acquisitions, pushed by its pay-TV and promoting operations, it stated on Monday.
Complete income superior to 2.38 billion euros ($2.56 billion) from 2.1 billion a 12 months in the past. Pay-TV Canal Plus, now the corporate’s greatest asset after the spin-off of Common Music Group, elevated gross sales by 6% to 1.45 billion euros.
Gross sales at Vivendi’s promoting unit Havas rose by 11.3% to 591 thousands and thousands euros.
The group’s publishing division Editis, gross sales of which declined by 1.7% within the quarter, is among the many belongings being reviewed by EU antitrust authorities as Vivendi seeks to accumulate French media and retail group Lagardere.
Lagardere is residence to Hachette, France’s greatest publishing firm, in addition to Paris Match and Journal du Dimanche.
Vivendi, managed by billionaire Vincent Bollore, raised its supply in February and is able to spend as a lot as 2 billion euros to accumulate all of Lagardere’s listed shares.
The tender supply will shut on Could 20. In its assertion, Vivendi stated it wish to hold Arnaud Lagardere, the son of Lagardere’s founder, as chief govt of the corporate.
($1 = 0.9284 euros)
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