Canal+ Chairman to Lead Vivendi's Content Business Review
Bertrand Meheut will lead "a strategic study regarding the development of media and content" as the conglomerate evaluates possible divestitures.
LONDON - Vivendi said Monday that Canal+ chairman Bertrand Meheut will play a key role in its strategic review, which is expected to lead to the sale of at least some of its businesses.
The French entertainment and telecom conglomerate's supervisory board has picked the head of the pay TV firm to lead "a strategic study regarding the development of media and content, a field in which Vivendi is today one of the worldwide leaders," the company said.
Vivendi includes such media and content assets as Canal+, Universal Music Group and a majority stake in video game maker Activision Blizzard in addition to telecom businesses.
Some analysts have suggested that a sale of the Activision stake would make one natural move for Vivendi.
Jean-Yves Charlier, a member of the conglomerate's supervisory board, will leave that post and join Vivendi in October as senior executive vp in charge of telecoms activities, the company also said.
He will also participate in the group’s strategic review and report to the chairman of the management board Jean-Francois Dubos.
Amid a languishing stock price, Vivendi earlier this year started intensifying its review of its asset portfolio. That led to the departure of CEO Jean-Bernard Levy who wanted to keep most businesses as part of the group.
A source said that while reports have at times suggested a quick decision about the company's future asset portfolio, the company won't rush any decisions.