Vivendi Chief Says Global Expansion Is Key
March 30, 2010 at 4:56 AM (PT)
VIVENDI SA CEO JEAN-BERNARD LEVY said his company and its competitors must extend the reach of content such as video games and music into emerging markets to remain global media leaders, reports BUSINESSWEEK.COM.
"We can’t stay in a situation where the content companies make almost all of their money out of 10 countries in the developed world," LEVY said YESTERDAY (3/29) in an interview at BLOOMBERG’s NEW YORK headquarters. "You cannot say you are a global content company if in some way or other you do not properly address a few billion out of these emerging countries’ populations."
Vivendi, owner of UNIVERSAL MUSIC GROUP, may reportedly use cash from the $5.8 billion sale of its stake in NBC UNIVERSAL for emerging-market purchases, or to buy out minority investors in some of its units, LEVY has said.