Vivendi Universal Posts Gains, Announces Wireless Downloads

By | April 25, 2001 at 12:00 AM

Vivendi Universal said yesterday that the movie, music and print media behemoth enjoyed double-digit gains in revenue across its vast holdings. The company reported that earnings before interest, taxes, and depreciation, climbed to $809 million at its media businesses in the latest quarter, raising revenue to $5.28 billion.

Slight losses from Universal Studios were offset by gains in music, television, publishing, and telecom operations. Vivendi Universal has telephone and wireless businesses throughout Europe.

Additionally, Vivendi Universal Chairman Jean-Marie Messier said in a speech to shareholders today that the company will offer downloadable music on mobile phones in September. The new offer, targeted to teenagers and young adults, allow users to play music that has been downloaded from a PC or other device. Universal is working with Sony to launch “Duet,” the online joint venture aiming to deliver digital copies of titles from the two giant record companies’ libraries sometime this summer.

Vivendi Universal’s U.S.-listed shares closed today up about 2 percent at $67.58.

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