|
|
|
|
|
VivendiVivendi was the name of a French company, which merged in 2000 with Canal+ television networks and the Canadian company Seagram, the owner of Universal Studios film company, to become Vivendi Universal. See Vivendi Universal for post-merger media company; see Veolia Environnement for demerged water and waste management company. History In 1853, a water company named "Compagnie Gnrale des Eaux" (CGE) was created by Imperial decree in order to supply water to the public in Lyon. It served in this capacity for over a hundred years. Beginning in 1980, CGE began diversifying its operations from water into waste management, energy, transport services, and construction and property. In 1983, CGE helped to found Canal+, the first Pay-TV channel in France, and in the 1990s, they began expanding into telecommunications and mass media. In 1996, Vivendi created Cegetel to take advantage of the 1998 deregulation of the French telecommunications market; it is currently a leading provider of both fixed and mobile services. Vivendi's CanalSatellite is the first digital television network available in France. In June of 1999, Vivendi merged with Path, the exchange ratio for the merger fixed at three Vivendi shares for every two Path shares. The Wall Street Journal estimated the value of the deal at US$2.59 billion. Following the completion of the merger, Vivendi retained Path's interests in British Sky Broadcasting Group PLC and CanalSatellite, a French broadcasting corporation then sold all remaining assets to Jrme Seydoux's family-owned holding company, Fornier SA who changed its name to Path. In 1998, the company changed its name to Vivendi, and sold off its property and construction divisions the following year. Vivendi went on to acquire stakes in or merge with Maroc Telecom, Havas, Cendant Software, Anaya, and NetHold, a large Continental European pay-TV operator. Beginning in 1998, Vivendi launched digital channels in Italy, Spain, Poland, Scandinavia, Belgium, and the Netherlands. In July 2000, the company spun off the remaining water and waste companies into Vivendi Environnement, later renamed Veolia Environnement. In September, Vivendi was listed on the New York Stock Exchange (as "V"). Finally, in December, it announced a major merger with Canal+ and with Seagram, the owner of Universal Studios film company. At that point the company was renamed Vivendi Universal. Jean-Marie Messier, Vivendi's flamboyant CEO (who had overseen the most dramatic phase of the company's diversification), was replaced in 2002 by Jean-Rene Fourtou. See also External link
|
 |
| |
|
|