Vivendi Posts Loss for First Half of 2003
French telecommunications and entertainment conglomerate Vivendi Universal reported a narrower loss for the first half of the year and its chairman said he hopes to complete the planned sale of its U.S. entertainment assets to General Electric Co.’s NBC division in the second half of next year. Vivendi reported Wednesday it lost €632 million ($723 million) in the January-June period in contrast to a loss of €12.31 billion in the first half of 2002. The company has been selling assets to trim its staggering debt. Vivendi’s operating profit dropped 27 percent in the first half to €1.68 billion ($1.92 billion)… Read more »