Under the plan, media assets including Universal Studios, Universal Music, cable television and publishing would become a new entity, separate from telecoms unit Cegetel and water utility Vivendi Environnement, newspaper Liberation said.
The report cited sources close to the board as saying four of its members -- Bernard Arnault, Henri Lachmann, Serge Tchuruk and Marc Vienot -- were backing the plan.
Vivendi shareholders would receive shares in both new companies, though U.S. shareholders would gradually disengage from the French utilities side in favor of the media business, Liberation reported.
At 10:01 a.m. GMT, shares in Vivendi Universal were up 2.9% to 32.87%.
THE COUNT: ALL THE DESERT'S A STAGE
The dust settles on the Indio Polo Grounds. (4/22a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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