Vivendi Shareholders Approve UMG Spinoff
22 Junho 2021 - 7:36AM
Dow Jones News
By Anne Steele
Vivendi SE shareholders approved the French media company's plan
to spin off its Universal Music Group unit, bringing the world's
largest music company a step closer to becoming its own public
entity.
With more than 99% approval, shareholders backed the plan to
distribute 60% of Universal's shares to existing Vivendi
shareholders and to list the company on the Euronext Amsterdam
stock exchange. Vivendi executives said the listing would take
place on Sept. 21.
Universal, home to stars including Taylor Swift, Billie Eilish,
Queen and the Beatles, commands some 40% market share in the
domestic recorded music business--30% globally--and operates the
world's second-largest music publishing company, which last year
bought Bob Dylan's entire songwriting catalog.
Matthew Dalton also contributed to this article.
Write to Anne Steele at anne.steele@wsj.com
(END) Dow Jones Newswires
June 22, 2021 06:29 ET (10:29 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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