|
Vivendi plans U.S. push
|
 |
April 24, 2001: 3:27 a.m. ET
Europe's largest listed media company to widen venture with Yahoo to TV, film
|
LONDON (CNN) - Vivendi Universal hopes to broaden its music-licensing deal with Yahoo to encompass films and television, a report said on Tuesday.
Europe's largest listed media company wants to match the distribution clout of rival AOL Time Warner and plans to broaden its partnership with Yahoo that would stop short of a takeover, The Wall Street Journal reported.
"We believe that Yahoo could be the privileged partner of Vivendi Universal and vice versa," Vivendi Chairman Jean-Marie Messier told the newspaper. "We have other content. Let's discuss this other content with Yahoo."
Messier was speaking after his company - formed from a merger of France's Vivendi, Canada's Seagram Co. and Vivendi pay-TV unit Canal Plus – announced first-quarter core earnings more than doubled.
Broadening its deal with Yahoo (YHOO: Research, Estimates) to areas other than music would enable Vivendi to reach consumers through a wider array of channels in the U.S., where its distribution network is limited to cinemas, traditional retail outlets and cable-TV network USA Networks Inc.
By contrast, AOL Time Warner (AOL: Research, Estimates) already is in a position to pipe its films and TV shows straight to people's homes through the AOL Internet-access service and its vast network of cable lines.
Messier also confirmed that Vivendi and Rupert Murdoch's News Corp. (NWS: Research, Estimates) have reached an agreement to merge their unprofitable Italian pay-TV businesses.
Vivendi's Telepiu subsidiary will effectively take over News Corp.'s Stream unit, the report said, citing people familiar with the deal. Vivendi will own two-thirds of the merged entity, while News Corp. will own one-third.
Vivendi Universal (V) shares closed unchanged in Paris on Monday at  74.4. 
|
|
|
|
|
 |
|
