Vivendi Profit Up, UMG EBITDA Off In Q2
September 7, 2006 at 6:08 AM (PT)
VIVENDI second quarter adjusted net profit rose 10.3%, driven by games (specifically the wildly popular online game WORLD OF WARCRAFT) and French pay TV channel CANAL PLUS, but its UNIVERSAL MUSIC GROUP division showed a 1.9% drop in EBITDA to 154 million euros. The overall net profit jumped 53% due to a one-time gain from a settlement of tax litigation over the planned sale of its shares of DUPONT.
As ALL ACCESS reported earlier this week, VIVENDI is buying BMG MUSIC PUBLISHING for $2.09 billion (1.63 billion euros).