Vivendi looks to sell off cable TV channels

As Vivendi Universal SA prepares to sell off of its entertainment assets, USA Network will play a lead role in a deal that valued up to $14 billion.

    Vivendi has had difficulty explaining falling share prices

    The USA Network, present in 90 million homes, is the largest of Vivendi’s three cable channels and is itself valued at about $4.5 billion. But Vivendi’s auction of the cable company comes amid a decline in viewership and shrinking growth.

    Three years ago, USA Network boasted a primetime audience of 2.3 million, but according to Nielson Media Research, last months figures showed audiences fell to 1.8 million, the WSJ reported.

    Vivendi has told bidders including NBC’s parent General Electric., that it would like $14 billion. Most bidders think the assets are worth about $11 billion. If it doesn’t get its asking price, Vivendi may instead take sell its entertainment unit in an initial public offering.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Lost childhoods: Nigeria's fear of 'witchcraft' ruins young lives

    Many Pentecostal churches in the Niger Delta offer to deliver people from witchcraft and possession - albeit for a fee.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".

    China will determine the future of Venezuela

    China will determine the future of Venezuela

    There are a number of reasons why Beijing continues to back Maduro's government despite suffering financial losses.