VIVA VIVENDI!!

Net income rose to 1.42 euros ($1.25 billion) from 847 million euros in the same period last year.

Chief Executive Jean-Marie Messier is now building the company's media, Internet and cellular businesses after selling shares in Vivendi Environnement earlier this year. The company predicted second-half growth "well above" 60% in the second.

After getting clearance from U.S. and Canadian regulatory commissions and awaiting the expected go-ahead from Europe, Vivendi Universal will use Seagram's film and recording artists to create services for Canal Plus' pay-TV services and for Vizzavi, its Internet venture with Vodafone Group PLC, the world's top wireless company.

Vivendi's SFR mobile phone arm saw first-half profits climb to 1.64 billion euros from 967 million euros a year earlier, with earnings before interest and tax rising 46% to 339 million euros. Vivendi Environnement SA, the world's largest water company, two-thirds owned by Vivendi, said first-half net income rose to 104.7 million euros from an estimated 38.6 euros.

Vivendi is expecting approval from European Union regulators by Oct. 13. Officials have signaled that Vivendi's purchase of Seagram and Canal Plus will be approved without the in-depth inquiry to which the AOL-TW and WMG/EMI deals have been subjected.

Messier has also announced he will begin reporting company earnings on a quarterly basis next year and to appease shareholder concerns, he will eliminate both double voting rights and resolutions enabling it to sell new shares during a takeover.

In addition, he will require all potential investors to watch "The Nutty Professor" and "Cinderfella" at least 15 times apiece.