Vivendi now looking at four-way split

Source: Vivendi

Vivendi has updated on its plan to split up into separate listed companies, first announced in December, with the company now looking to divide into four – rather than three – listed entities.

The Vivendi supervisory board has approved a plan to divide the media giant into four companies – pay TV outfit Canal+, advertising giant Havas, a new company grouping publishing and distribution assets, and a fourth investment company  owning listed and unlisted financial stakes in the cultural, media and entertainment sectors.

The categorisation of the third and fourth companies represent a new development from the original plan unveiled in December, which indicated a likely split into three.

The publishing and distribution company would group Vivendi’s majority stake in Lagardère and wholly owned Prisma Media. Lagardère is a worldwide group and the third largest book publisher for the general public and educational markets and a global leader in travel retail. It also includes press and live entertainment activities.

Prisma Media is a leader in magazine publications and online media in France with a portfolio of 30 brands.

This entity would foster collaboration between the different activities related to publishing in its broadest sense, according to Vivendi

The investment company would actively support the strategic development of its portfolio companies and would focus on value creation and capital return to its shareholders, through an effective portfolio rotation and a targeted reinvestment policy, Vivendi said.

A new update on the study of the split project will be presented to the Supervisory Board meeting convened on March 7.