One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music … Vivendi is known for owning the Universal Music Group. This of course also follows the Tencent-led agreement to acquire 10% of UMG for $3 billion with an option to acquire another 10%. Vivendi in a statement on Saturday denied wrongdoing, claiming its current and former executives are “either extraneous to those allegations or have acted in full compliance with the law.” The statement added that Bolloré and De Puyfontaine’s attorneys “have already expressed full willingness to provide the necessary clarifications before the prosecutor’s office takes a decision, being confident that the decision will be the closure of the proceedings without charges.”. “Vincent will have done the deal all by himself — no bankers and no dog and pony show,” this person said. Your California Privacy Rights One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music giant. Variety and the Flying V logos are trademarks of Variety Media, LLC. [8] [9] [10] On 24 April 2018, Bolloré was brought into custody for questioning concerning perceived links between discount rates for political consulting (through Havas ) and port concessions in Lomé , Togo ; and Conakry , Guinea . The investment drive is backed by 6 billion euros ($7.3 billion) earned from selling 20% of Universal Music Group, the world’s biggest music company and the company’s biggest asset by far. 2,966, This story has been shared 2,845 times. Do Not Sell My Personal Information. Post was not sent - check your email addresses! Tencent to Increase Universal Music Group Stake to 20% Vivendi in Negotiations to Acquire French Publisher Prisma Media Vivendi's Vincent Bollore Indicted in Italian Probe Over Mediaset Stake Universal Music Group is the world leader in recorded music, music publishing and merchandising, with more than 50 labels covering all genres. Sorry, your blog cannot share posts by email. That figure values all of UMG at $34 billion — or more than the entire value of Vivendi. Tithe money funded Hillsong pastors’ luxury lifestyles, ex-members say, August 6, 2019 | 10:05pm | Updated October 4, 2019 | 7:58pm. Your Ad Choices 2,845, This story has been shared 2,293 times. After pulling out of the Mediaset Premium pay-TV deal Vivendi snapped up an almost 30% stake in Mediaset, becoming the company’s second shareholder after the family of former Italian Premier Silvio Berlusconi, founder of the Italian TV conglomerate, which holds a 44% stake in the company through their holding company Fininvest. Finishing 2019 on $6.4 billion, Universal Music is to go to IPO hot on the heels of Warner Music’s announcement to do the same. “Just a lot of patience as he held out for a valuation with a ‘3’ in front of it.”. UMG was valued around $5 billion just five years ago. ... Vivendi is controlled by billionaire Vincent Bolloré. Vincent Bollore Net Worth Four young girls arrested for murder of 15-year-old at Walmart, Police respond to Kellyanne Conway's NJ home as family tension boils over, Adorable pup with birth defect gets stood up on adoption day, Woman accused of stealing Pelosi’s laptop may be destroying evidence: feds, Kellyanne Conway accused of posting topless photo of 16-year-old daughter, More like Bye Pillow! Vivendi in its statement on Saturday said they have filed a complaint with the European Commission against Italy over this law, which Vivendi claims is a “blatant infringement of EU law.”, You will be redirected back to your article in. Television and Cinema Groupe Canal+ is the leading pay-TV operator in France, and also serves markets in Africa, Poland, Vietnam and Myanmar. Since Vivendi swooped down on its stock, Mediaset has managed to have most of Vivendi’s voting rights frozen on antitrust grounds citing Italian media cross-ownership laws, as Vivendi also owns a large chunk of Telecom Italia. We've received your submission. UMG would still have enough equity left over “to keep its door open to other strategic opportunities, whether they’re in tech, or streaming services or other geographies.”. https://variety.com/2020/tv/global/vivendi-vincent-bollore-mediaset-1234852555 Privacy Notice Nor does it necessarily mean that Bollore and De Puyfontaine will stand trial. © Copyright 2021 Variety Media, LLC, a subsidiary of Penske Business Media, LLC. Universal - the world's biggest music company - already has its content streamed by Tencent in China as the result of a deal struck in 2017. When asked by a shareholder if Vivendi would carry out an IPO for Universal Music Group, chairman Vincent Bolloré said they would "at the right moment." Sitemap The latest is Chinese tech giant Tencent's move to double its 10% stake in Universal Music Group. Cuomo's outdoor dining curfew a killer on Super Bowl Sunday, Death of NYC's most beloved restaurants puts landlords in danger, Cole Haan discounts top sale styles up to 60% off, Make the best investment for your mental health in 2021, Sur La Table flash sale takes 20 percent off best-selling cookware, Where to buy new KF94 masks online to protect yourself from COVID-19, Upgrade your home security with a Ring Video Doorbell on sale for $180, Orianne Cevey auctioning Phil Collins' gold records amid split, Tithe money funded Hillsong pastors' luxury lifestyles: former members. The tie-up also builds on a partnership struck two years ago, under which Tencent can license Universal's music for distribution over its streaming platforms. He owns 24% in the French media company Vivendi. It is the home of Lady Gaga, Mariah Carey, Queen, Prince, and many other artists. Thanks for contacting us. Mediaset sued for breach of contract, claiming damages then estimated at €50 million ($56.6 million) per month — stemming from the drop in share price — for every month of delay. Tencent's decision to double down on Santa Monica, Calif.-based UMG, the largest of the "big three" companies that own rights to most of the world's recorded music… And in 2012, when Bolloro started buying Vivendi, its stock was trading as low as $16 a share. This story has been shared 2,966 times. Licensed by Canal + on December 44, Stéphane Guy was warmly supported by his former acolyte, Paul Le Guen. Vivendi, which is the Paris-based parent company of Universal Music Group and pay-TV operator Canal Plus Group, in 2016 abruptly pulled out of a partnership agreement to buy Mediaset Premium in a share swap valued at about €893 million ($1.08 billion). VINCENT BOLLORÉ. The Bolloré Group also has important positions in the economies of several former French colonies in Africa (in particular Ivory Coast, Gabon, Cameroon, and Congo). Under Italian law, an indictment does not imply guilt. Universal Music Group, ... “I’ve known Vincent Bolloré for 20 years,” Mr Sarkozy explained at the time. One of the winners of a potential $3.36 billion deal for a stake in Universal Music Group is Vincent Bollore, who controls the French conglomerate that owns the music giant. On Tuesday, it was reported that Chinese investment firm Tencent Holdings is in talks to buy a 10 percent stake in Universal — the world’s largest music company, which has signed artists like Taylor Swift and Ariana Grande. Vivendi. Read Next: ABC News Anchor Tom Llamas Will Jump to NBC News, Wim Wenders-David Byrne Anthology Series ‘This is Music’ To Be Pitched at the Berlinale Series Market, Berlinale Series Market Unveils 2021 Selection, Cecilia Mangini, Italian Documentary Cinema Pioneer, Dies at 93, Kellyanne Conway Accused of Posting Topless Photo of Her 16-Year-Old Daughter on Twitter, Lindsay Lohan Asks TikTok User to Take Down Viral Cameo (EXCLUSIVE), Carey Mulligan Responds to Variety's Apology for ‘Promising Young Woman’ Review, Hollywood Elite in COVID-19 Vaccine Scramble: 'It's the Hunger Games Out There', ‘Godzilla vs. Kong’ Release Date Moves Back a Week, WarnerMedia Sets New Zealand’s 'There is No I in Threesome' as HBO Max Original. Bollore also owns 25% of Vivendi, and that is the sole reason we bought the stock. Added into the context of a total of… CEO banned from Twitter over election fraud claims, This short seller just got a $2.75 billion bailout, Leon Black's $158M Jeffrey Epstein payout raises eyebrows, Mariska Hargitay tapes intro for ESPN boxing doc after 14-hour ‘SVU’ day, Orianne Cevey auctioning Phil Collins’ gold records amid split, Tithe money funded Hillsong pastors’ luxury lifestyles: Former members, © 2021 NYP Holdings, Inc. All Rights Reserved, Tencent doubles stake in Universal Music, home to Ariana Grande, Drake, Bob Dylan sells rights to all his songs in blockbuster deal, Madonna reportedly leaves Universal Music, in talks to return to Warner label, Spotify, Universal Music Group strike global licensing deal, Gov. Vivendi 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 … Last month Chinese tech giant Tencent began talks to buy a 10% chunk of Vivendi’s stake in Universal Music, in a deal worth $3.3 billion. Terms of Use Italian prosecutors have indicted Vivendi’s former chairman Vincent Bolloré and current CEO Arnaud De Puyfontaine in a probe over alleged market manipulation stemming from legal wrangling prompted by Vivendi and Mediaset‘s botched 2016 pay-TV deal. Along with Sony Music and Warner Music Group. Universal Music Group, the home of stars including Taylor Swift, Lady Gaga and the Beatles, has sold a 10% stake to a consortium led by the Chinese … Universal Music Group parent issues statement… Mediaset sued Vivendi seeking damages of €1.5 billion and alleged breach of contract.. It was a good investment considering that Tencent’s potential slice of UMG would be worth $3.4 billion. Vivendi said a Tencent-led consortium would buy an additional 10% stake in Universal Music Group (UMG), home to The Beatles, in a deal valuing the label at 30 billion euros ($37 billion). https://theindustryobserver.thebrag.com/vincent-bollore-detained UMG is considered one of the “Big Three” record labels. Bollore and De Puyfontaine had been placed under investigation in Milan in 2017 after Mediaset filed a suit claiming they plotted to drive down the company’s share price by premeditating to dishonor their 2016 deal to buy Mediaset’s Mediaset Premium pay-TV unit, and then allegedly used the devaluation caused by the botched deal to raid Mediaset stock. Even with a stock jump of 4.3 percen, Vivendi, which also owns French pay-TV giant Canal+ , has a market value of just $33.4 billion. Oscars Predictions: Best Picture – Is ‘Sound of Metal’ Peaking at the Perfect Time? 2,293, © 2021 NYP Holdings, Inc. All Rights Reserved Bolloré isn’t pictured with rappers, or music execs, because he meets with presidents and world leaders. A former consultant calls for the return of Stéphane Guy! Vincent Bolloré, the billionaire who steers the company via his family vehicle, has a record of controversial investments. The deal promises to deliver Bollore — who owns a 26 percent stake in UMG parent Vivendi — around $7.5 billion, a source close to the French investor said. Vivendi’s prime asset is Universal Music Group (UMG), the largest music label in the world, which owns around 30% of the music created in the Western hemisphere. 3 ’ in front of it. ” 2012, when Bolloro started buying,. Considering that Tencent ’ s potential slice of umg would vincent bolloré universal music worth $ 3.4 billion other.. 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