Vivendi first-quarter gross sales up 7.9%, pushed by pay-TV and Havas By Reuters

© Reuters. FILE PHOTO: The emblem of French media large Vivendi is seen in Paris, France, January 31, 2022. REUTERS/Violeta Santos Moura

PARIS (Reuters) -French media large Vivendi (OTC:)’s first-quarter gross sales grew by 7.9% at fixed alternate charges and excluding acquisitions, pushed by its pay-TV and promoting operations, it mentioned on Monday.

Total income superior to 2.38 billion euros ($2.56 billion) from 2.1 billion a yr in the past. Pay-TV Canal Plus, now the corporate’s greatest asset after the spin-off of Universal Music Group (AS:), elevated gross sales by 6% to 1.45 billion euros.

Sales at Vivendi’s promoting unit Havas rose by 11.3% to 591 hundreds of thousands euros.

The group’s publishing division Editis, gross sales of which declined by 1.7% within the quarter, is among the many property being reviewed by EU antitrust authorities as Vivendi seeks to amass French media and retail group Lagardere.

Lagardere is house to Hachette, France’s greatest publishing firm, in addition to Paris Match and Journal du Dimanche.

Vivendi, managed by billionaire Vincent Bollore, raised its provide in February and is able to spend as a lot as 2 billion euros to amass all of Lagardere’s listed shares.

The tender provide will shut on May 20. In its assertion, Vivendi mentioned it want to preserve Arnaud Lagardere, the son of Lagardere’s founder, as chief government of the corporate.

($1 = 0.9284 euros)

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