BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX     

BBC News World Edition
 You are in: Business  
News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
E-Commerce
Economy
Market Data
Entertainment
Science/Nature
Technology
Health
-------------
Talking Point
-------------
Country Profiles
In Depth
-------------
Programmes
-------------
BBC Sport
BBC Weather
SERVICES
-------------
EDITIONS
Monday, 10 February, 2003, 10:34 GMT
Troubled Vivendi reports sales rise
Rapper Eminem in the film 8 Mile
The film 8 Mile, starring Eminem, has made $116m at the box office
Sales have risen at troubled media giant Vivendi Universal, helped by a strong performance from its telecoms business.

Revenues at Vivendi for 2002 rose 6% to 61bn euros (40.4bn).

But sales at its American entertainment unit were dented because of fewer video releases and poor music sales.

The world's second largest media company was almost pushed over the edge following an extravagant buying spree by its former chief executive Jean-Marie Messier.

The Franco-American giant has since been shedding big parts of its business in an attempt to cut its mammoth debt.

Vivendi is currently thinking about selling or floating its American entertainment division.

The music division accounts for almost one-fifth of Vivendi's media-related revenues, the company said in November.

Cegetel

Not taking into account businesses that have been sold off, Vivendi said on Monday that sales last year actually rose 11% to 28.1bn euros, with fourth quarter revenues up 5%.

French telecoms firm Cegetel, which Vivendi beat Vodafone to gain control over last year, proved a strong performer, reporting revenues up 11% to 7.1bn euros.

Vivendi's American entertainment division, which includes Universal Studios and Universal theme parks, saw full-year profits increase by 27% to 6.3bn euros, in large part due to its takeover of USA Networks in May last year.

Eminem

But in spite of releasing blockbuster films such as 8 Mile, with rap superstar Eminem, and Red Dragon, starring Anthony Hopkins as serial killer Hannibal Lecter, sales at the US entertainment unit only rose by 2% in 2002.

8 Mile has so far made $116m (71.1bn) at the US box office.

The world's second largest media company said sales at its entertainment unit were weak due to fewer video releases and lower management fees from its theme park joint ventures.

A 4% drop in sales at its music business further dented sales at the entertainment division.

Vivendi's results were weaker than analysts had thought.

Shares in the media giant dropped 1% shortly after the update, but recovered to stand up 2.8% at 14.40 euros in mid-morning trading in Paris.

See also:

03 Jan 03 | Business
03 Jan 03 | Entertainment
12 Dec 02 | Business
26 Nov 02 | Business
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


 E-mail this story to a friend

Links to more Business stories

© BBC ^^ Back to top

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East |
South Asia | UK | Business | Entertainment | Science/Nature |
Technology | Health | Talking Point | Country Profiles | In Depth |
Programmes