Licensed by Canal + on December 44, Stéphane Guy was warmly supported by his former acolyte, Paul Le Guen. The investment drive is backed by 6 billion euros ($7.3 billion) earned from selling 20% of Universal Music Group, the world’s biggest music company and the company’s biggest asset by far. Television and Cinema Groupe Canal+ is the leading pay-TV operator in France, and also serves markets in Africa, Poland, Vietnam and Myanmar. The tie-up also builds on a partnership struck two years ago, under which Tencent can license Universal's music for distribution over its streaming platforms. ... Vivendi is controlled by billionaire Vincent Bolloré. Universal Music Group parent issues statement… Mediaset sued Vivendi seeking damages of €1.5 billion and alleged breach of contract.. Bollore also owns 25% of Vivendi, and that is the sole reason we bought the stock. 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Vivendi chairman Yannick Bolloré has told Bloomberg in a new interview that "everything's fine" regarding the French conglomerate's loose-timelined plan to sell up to 50% of Universal Music … Vivendi, which is the Paris-based parent company of Universal Music Group and pay-TV operator Canal Plus Group, in 2016 abruptly pulled out of a partnership agreement to buy Mediaset Premium in a share swap valued at about €893 million ($1.08 billion). Post was not sent - check your email addresses! Variety and the Flying V logos are trademarks of Variety Media, LLC. Vincent Bolloré, the billionaire who steers the company via his family vehicle, has a record of controversial investments. 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Italian prosecutors have indicted Vivendi’s former chairman Vincent Bolloré and current CEO Arnaud De Puyfontaine in a probe over alleged market manipulation stemming from legal wrangling prompted by Vivendi and Mediaset‘s botched 2016 pay-TV deal. https://variety.com/2020/tv/global/vivendi-vincent-bollore-mediaset-1234852555 Privacy Notice VINCENT BOLLORÉ. Thanks for contacting us. Richard Lewis Will Not Appear in ‘Curb Your Enthusiasm’ Season 11, Kevin Hart to Star Alongside Cate Blanchett in ‘Borderlands’, 2021 Oscars Predictions: All Awards Categories, How the Film Independent Spirit Nominations Could Affect the Oscars Race, ‘Harry Potter’ TV Series in Early Development at HBO Max, Pete Davidson and Glenn Close Were Made for Each Other, San Antonio Spur Trey Lyles Picks Up Brand-New L.A. 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Your Ad Choices The latest is Chinese tech giant Tencent's move to double its 10% stake in Universal Music Group. Since Vivendi swooped down on its stock, Mediaset has managed to have most of Vivendi’s voting rights frozen on antitrust grounds citing Italian media cross-ownership laws, as Vivendi also owns a large chunk of Telecom Italia. Do Not Sell My Personal Information. Your California Privacy Rights 2,966, This story has been shared 2,845 times. That figure values all of UMG at $34 billion — or more than the entire value of Vivendi. Mediaset sued for breach of contract, claiming damages then estimated at €50 million ($56.6 million) per month — stemming from the drop in share price — for every month of delay. The latest is Chinese tech giant Tencent's move to double its 10% stake in Universal Music Group. Sitemap Universal Music Group is the world leader in recorded music, music publishing and merchandising, with more than 50 labels covering all genres. Bolloré isn’t pictured with rappers, or music execs, because he meets with presidents and world leaders. Even with a stock jump of 4.3 percen, Vivendi, which also owns French pay-TV giant Canal+ , has a market value of just $33.4 billion. Tithe money funded Hillsong pastors’ luxury lifestyles, ex-members say, August 6, 2019 | 10:05pm | Updated October 4, 2019 | 7:58pm. “Just a lot of patience as he held out for a valuation with a ‘3’ in front of it.”. Universal Music Group, the home of stars including Taylor Swift, Lady Gaga and the Beatles, has sold a 10% stake to a consortium led by the Chinese … https://theindustryobserver.thebrag.com/vincent-bollore-detained © Copyright 2021 Variety Media, LLC, a subsidiary of Penske Business Media, LLC. Tencent to Increase Universal Music Group Stake to 20% Vivendi in Negotiations to Acquire French Publisher Prisma Media Vivendi's Vincent Bollore Indicted in Italian Probe Over Mediaset Stake Vivendi in its statement on Saturday said they have filed a complaint with the European Commission against Italy over this law, which Vivendi claims is a “blatant infringement of EU law.”, You will be redirected back to your article in. Universal Music Group, ... “I’ve known Vincent Bolloré for 20 years,” Mr Sarkozy explained at the time. Sources close to the talks also said Bollore led the deal in a way that will allow the company to save on hefty bankers fees. Oscars Predictions: Best Picture – Is ‘Sound of Metal’ Peaking at the Perfect Time? Vincent Bollore Net Worth Tencent's decision to double down on Santa Monica, Calif.-based UMG, the largest of the "big three" companies that own rights to most of the world's recorded music… Vivendi. It is the home of Lady Gaga, Mariah Carey, Queen, Prince, and many other artists. Last month Chinese tech giant Tencent began talks to buy a 10% chunk of Vivendi’s stake in Universal Music, in a deal worth $3.3 billion. One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music giant. On Tuesday, it was reported that Chinese investment firm Tencent Holdings is in talks to buy a 10 percent stake in Universal — the world’s largest music company, which has signed artists like Taylor Swift and Ariana Grande. We've received your submission. Universal - the world's biggest music company - already has its content streamed by Tencent in China as the result of a deal struck in 2017. [8] [9] [10] On 24 April 2018, Bolloré was brought into custody for questioning concerning perceived links between discount rates for political consulting (through Havas ) and port concessions in Lomé , Togo ; and Conakry , Guinea . Vivendi, controlled by French billionaire Vincent Bollore, is seeking to cash in on the music industry's revival, driven by a growing subscription and ad-based music streaming services. 2,293, © 2021 NYP Holdings, Inc. All Rights Reserved One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music … This of course also follows the Tencent-led agreement to acquire 10% of UMG for $3 billion with an option to acquire another 10%. 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After pulling out of the Mediaset Premium pay-TV deal Vivendi snapped up an almost 30% stake in Mediaset, becoming the company’s second shareholder after the family of former Italian Premier Silvio Berlusconi, founder of the Italian TV conglomerate, which holds a 44% stake in the company through their holding company Fininvest. 2,845, This story has been shared 2,293 times. Vivendi said a Tencent-led consortium would buy an additional 10% stake in Universal Music Group (UMG), home to The Beatles, in a deal valuing the label at 30 billion euros ($37 billion). Sorry, your blog cannot share posts by email. The deal promises to deliver Bollore — who owns a 26 percent stake in UMG parent Vivendi — around $7.5 billion, a source close to the French investor said. “Vincent will have done the deal all by himself — no bankers and no dog and pony show,” this person said. It was a good investment considering that Tencent’s potential slice of UMG would be worth $3.4 billion. Finishing 2019 on $6.4 billion, Universal Music is to go to IPO hot on the heels of Warner Music’s announcement to do the same. When asked by a shareholder if Vivendi would carry out an IPO for Universal Music Group, chairman Vincent Bolloré said they would "at the right moment." Added into the context of a total of… Vivendi is known for owning the Universal Music Group. Vivendi in a statement on Saturday denied wrongdoing, claiming its current and former executives are “either extraneous to those allegations or have acted in full compliance with the law.” The statement added that Bolloré and De Puyfontaine’s attorneys “have already expressed full willingness to provide the necessary clarifications before the prosecutor’s office takes a decision, being confident that the decision will be the closure of the proceedings without charges.”. A former consultant calls for the return of Stéphane Guy! UMG is considered one of the “Big Three” record labels. One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music giant. And in 2012, when Bolloro started buying Vivendi, its stock was trading as low as $16 a share. Under Italian law, an indictment does not imply guilt. 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