UMG's Parent Company Looking At Spinning Off Some Divisions
September 12, 2013 at 4:01 AM (PT)
VIVENDI, the parent company of UNIVERSAL MUSIC GROUP, said YESTERDAY (9/11) that it would consider plans to spin off telecom unit SFR off from the rest of its media business, and concentrate its core business on music, movies and TV.
CITYAM.COM reports, "VIVENDI’s supervisory board has unanimously decided to launch a study to split the group into two separate companies. The group is aiming to develop in media on the basis of several growth activities. Splitting off the French operator, the second biggest in the country, would give the firm a stronger identity as it seeks to take on bigger rivals in the market."