As a dedicated follower of the media industry, I must say this recent split of Vivendi into four companies is a thrilling turn of events! With my years of immersion in this dynamic world, I can’t help but feel like I’m watching a well-scripted drama unfold.
Following Vivendi’s division into four separate companies (Canal+ for pay-TV and films, Havas for advertising, Louis Hachette Group for publishing, which includes 66.53% of Lagardère and full control of Prisma Media), these stocks officially began trading in Europe on Monday.
Shares of Canal+, parents of Paddington producer StudioCanal, are now trading on the London Stock Exchange under the ticker symbol CAN, Havas shares on the Euronext Amsterdam market under HAVAS, while the publishing business is listed on the Euronext Growth exchange in Paris under the ticker symbol ALHG. Vivendi is keeping its shares listed on the Euronext Paris exchange.
Canal+ saw its stock drop more than 10 percent in early Monday trading, hitting 252 pence, down 13.1 percent from its opening trade. Havas shares, meanwhile, were up 6.6 percent at €1.91. And Louis Hachette Group’s stock was up 25 percent at €1.40.
Under the guidance of Chairman Yannick Bolloré and CEO Arnaud de Puyfontaine, shareholders of Vivendi voted in favor of a division on December 9th. This split aims to maximize the growth potential across Vivendi’s various sectors. Earlier in the year, Vivendi highlighted that it has been subjected to a substantial penalty due to its structure as a conglomerate since Universal Music Group’s distribution and listing in 2021. This has negatively impacted its valuation, restricted its capacity for external expansion, and prevented growth opportunities for its subsidiaries, which are thriving amidst an international market full of investment prospects.
The organizational structure and leadership roles for the newly separated firms were previously outlined, with an emphasis on current arrangements. At Vivendi, Bolloré continues to hold the position of chairman while de Puyfontaine remains CEO. In Canal+, Bolloré is chair, and Maxime Saada retains his role as CEO. Bolloré also maintains both the chairman and CEO roles at Havas. Lastly, Jean-Christophe Thiery holds dual positions as chair and CEO of Louis Hachette.
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2024-12-16 12:24