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Vivendi Board Approves Split as Former Paramount CEO Bob Bakish Named on New Canal+ Board
Media conglomerate Vivendi is moving closer to splitting into three separate entities, with a shareholder vote now set for Dec.
Led by chairman Yannick Bolloré and CEO Arnaud de Puyfontaine, the Vivendi board has approved a proposal that would see the separation of pay-TV giant Canal+, advertising powerhouse Havas and publishing firm Louis Hachette Group. “Should the spin-off project be approved by the shareholders’ meeting, the first listing of the shares of the three companies would take place on December 16, 2024, allowing for trading on the stock exchange from this date,” Vivendi said in a statement on Tuesday. The entertainment powerhouse — under which sits “Paddington” producer Studiocanal — would be led by Bolloré and Maxime Saada, with Jacques du Puy and Anna Marsh serving as deputy CEOs.
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