[This could be a great result for Universal, although having been through the Polygram experience it does put a lot of pressure on for short term results. On the other hand, it could increase the amount of cash available for “moon shot” operations like expanding direct to consumer.]
Vivendi has begun work on a “potential listing of Universal Music Group,” its largest asset, according to reports from a company shareholder meeting in Paris. The news was first reported in Financial Times and Reuters.
Vivendi chief executive officer Arnaud de Puyfontaine said at Thursday’s the meeting: “We have started work that will allow us to present the benefits of a potential listing of UMG to the supervisory board,” FT reported, citing Reuters. Representatives for UMG and Vivendi declined Variety’s request for further comment.