Vivendi (France)

Vivendi, formerly Vivendi Universal, slimmed down dramatically after it came close to financial collapse in 2002, and has delivered an impressive recovery. From 1998 onwards ambitious chairman Jean-Marie Messier oversaw a string of big acquisitions which transformed Compagnie Generale Des Eaux in name, size and function from a French utilities business into a global media giant. But the group accumulated huge debts in the process, leading Vivendi to a series of escalating losses. Misjudged management decisions and an impending cash crisis led many to question the validity of Messier's strategy, and he was ousted in 2002. A new management team was appointed to dismantle the mess left by Messier, selling off all but five key subsidiaries. These include French mobile company SFR, pay TV platform Canal+, record company Universal Music and its games division, now now amalgamated into global gaming #1 Activision Blizzard.

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Vivendi website

SFR	Groupe Canal+
Universal Music Group	Activision Blizzard

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