WSJ: Vivendi 'Rebuilding' It's Units
December 16, 2009 at 7:42 AM (PT)
THE WALL STREET JOURNAL writes that "VIVENDI SA boss JEAN-BERNARD LEVY chatted with singer SHANIA TWAIN as LADY GAGA performed on a white STEINWAY piano at a party for VIVENDI-owned record company UNIVERSAL MUSIC in NEW YORK's SKYLIGHT STUDIOS last week. Eight years after an overambitious acquisition strategy nearly bankrupted VIVENDI, LEVY is taking a small-picture approach to rebuilding one of the world's biggest entertainment, media and telecom firms.
The reports says "UNIVERSAL MUSIC is also going on the offensive, by getting into digital music itself. Last week, UNIVERSAL MUSIC and GOOGLE INC.'s YOUTUBE launched a new online music-video Web site called VEVO, which allows customers to view music videos free. According to UNIVERSAL MUSIC CEO DOUG MORRIS, VEVO will provide the company with a new array of advertising and marketing possibilities."
Read the full article here.