Mass-media holding firm Vivendi is considering the commercial viability of splitting off several of its businesses, including international creative and media agency Havas.
The Paris-based conglomerate’s management board first proposed the idea to its supervisory board on 13 December and a study on the idea has been in motion ever since.
With several of Vivendi’s key brands registering strong performances – including Havas, Canal+ and Lagardère – the media business is actively considering splitting off some of its brands on the stock market.
Vivendi believes that – due to these brands experiencing “strong growth in an international context” – such a move could in turn help “unleash [their] development potential”.
Currently, a partial split would be the company’s favoured option, with ad agency Havas, TV firm Canal+ and an as yet unconfirmed third company joining the group as a separate entity. Vivendi would still remain listed.
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If the plans are approved by the supervisory board, the final decision would still be subject to a consultation and several further stages, including authorisations and approvals. The move would then be subject to a vote at the annual general shareholders’ meeting in April next year.
“Today we are publishing a particularly sharp increase in revenues for a first quarter. This reflects the strength of our three core businesses and the Group’s ability to transform and growth,” Vivendi supervisory board chairman, Yannick Bolloré said.
The organic growth of 5.4% compared to the first quarter of 2023 was notably driven by the significant contribution of Lagardère, validating the relevance of the transaction with this group last November and our confidence in the potential of its activities.
Canal+ Group and Havas also delivered solid performances, with increases in reported revenues of 4.3% and 6.2%, respectively, over the same period.
Bolloré continued: “The feasibility study for the split project announced on December 13, 2023, is progressing. We will continue to keep the market informed. We approach 2024 with confidence, despite a tense macroeconomic context”
