Vivendi Flirts With Universal IPO Following Spotify -- Market Talk
April 19 2018 - 2:07PM
Dow Jones News
14:33 ET - Vivendi's CEO Arnaud de Puyfontaine tells
shareholders the French media group is reviewing the possibility of
listing Universal Music Group on the public market. The CEO has
been publicly flirting with an IPO of the world's largest music
company for more than a year as the music industry has returned to
growth--thanks entirely to streaming--after decades of declines
amid plummeting sales of physical formats and digital downloads.
The most recent comments, made during Vivendi's annual general
meeting in Paris, come just weeks after No. 1 music streaming
company Spotify's successful direct listing to the NYSE. "We have
started work that will allow us to present to the board the
benefits of an eventual listing of Universal Music Group," he said.
(anne.steele@wsj.com; @AnneMarieSteele)
(END) Dow Jones Newswires
April 19, 2018 14:52 ET (18:52 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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