Mar 7, 2003 • 1 min read

Vivendi may sell some entertainment assets to Viacom

Vivendi Universal chief executive Jean-Rene Fourtou has confirmed talks with Viacom about selling Universal's film studios and theme parks.

Jean-Rene Fourtou, chief executive of Vivendi Universal, has confirmed he is in talks with bosses at MTV owners Viacom with regards selling them Universal's film studios and theme parks. He wouldn't be drawn on specifics, saying simply: "As concerns our US assets, we have been approached by several potential partners. Keeping in mind the twofold aim of creating value for shareholders and lowering our debt, we are examining all possible options in both industrial and financial terms. Any disposals or partnerships, and the consequent strategy, will only be made public as and when they are concluded."

As previously reported it is likely the company will hold on to its music operations, perhaps looking for companies to forger joint ventures with. Though, that said, if a good offer came along for complete acquisition Fourtou might not be able to afford to turn it down.

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