Arnaud de Puyfontaine, Vivendi's chairman of the management board, says the Universal Music Group fire controversy is 'just noise'
at the Cannes Lions International Festival of Creativity on June 19, Bolloré projected that discussion with potential buyers will wind down by the end of the year, noting that Vivendi is not looking to spin off UMG and is in no hurry to wrap the sale.
Sources contend that private equity investors have been losing interest due to the high price of the company — which one UMG insider placed at $40 billion — and the slow pace of the deal, leading Vivendi to enter talks with other companies, including Chinese giant Tencent, which has been among the reported interested parties for several months.
During a press rendez-vous held in Cannes on Thursday morning, the Havas Group head announced a new strategic direction and mission for the Vivendi-owned agency. Said Bolloré : “Now the right time for us to set ourselves a new ambition: make a meaningful difference to brands, businesses and people. The primary focus of everyone at Havas is to create meaningful brands because meaningful brands are better for business and for the world we live in.
To that end, Havas is stepping up its presence in the greater marketing economy, announcing further development of the Annex, Havas-Vivendi’s shared network designed to help brands tap into digital and millennial culture, the acquisition of Los Angeles’ Battery agency, which will provide a presence on the west coast, in close proximity to UMG’s headquarters, and the launch of Annex Bastille, its first outpost in France.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Vivendi Chairman Says Universal Music Group Sale 'Still On Track' -- Just Not This YearVivendi 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 Group.
Baca lebih lajut »
Vivendi Delays Projected Universal Music Sale DateYannick Bollore, chairman of the supervisory board of Universal Music Group parent company Vivendi, delayed the projections for the sale of UMG by around six months in a interview today. He said Vi…
Baca lebih lajut »
Universal Music Chief Says Label Owes Artists ‘Transparency’ Over Vault Fire Losses“I will ensure that the senior management of this company, starting with me, owns this,” says Lucian Grainge
Baca lebih lajut »
Universal Music CEO Lucian Grainge promises ‘transparency’ over 2008 fire damageUniversal Music's Lucian Grainge vows transparency in internal memo. Attorney demands 'complete inventory of all master recordings ... destroyed in the fire.'
Baca lebih lajut »
A Universal Music Fire Case Could Break New Legal GroundHoward King, an attorney representing several artists, has his eyes on such a lawsuit.
Baca lebih lajut »