Vivendi Universal has reached an agreement to sell-off its profitable games publishing division, with operations in Europe and Latin America to be acquired by the Lagardere Group.
This deal will see a complete shift in the Half Life and Warcraft publisher’s management structure in the territories, the details of which have not been disclosed.
"This agreement fully meets the three inter-linked objectives that we set when we made this difficult decision to sell our publishing businesses,” stated Jean-Rene Fourtou, Chairman and Chief Executive Officer of Vivendi Universal. “Firstly, it contributes to lowering Vivendi Universal's debt, which is an absolute prerequisite to a turnaround. Next, it meets the cultural and heritage concerns that relate to publishing, and which we have never lost sight of. This is why, from the outset, we asked all potential acquirers to make important commitments in this area. Thirdly, this agreement offers growth prospects for VUP's French and European publishing businesses.”
We’ll keep you updated as to what happens with the firm’s valuable franchises, including The Thing, Half Life, Warcraft and No One Lives Forever, as it breaks.
This deal will see a complete shift in the Half Life and Warcraft publisher’s management structure in the territories, the details of which have not been disclosed.
"This agreement fully meets the three inter-linked objectives that we set when we made this difficult decision to sell our publishing businesses,” stated Jean-Rene Fourtou, Chairman and Chief Executive Officer of Vivendi Universal. “Firstly, it contributes to lowering Vivendi Universal's debt, which is an absolute prerequisite to a turnaround. Next, it meets the cultural and heritage concerns that relate to publishing, and which we have never lost sight of. This is why, from the outset, we asked all potential acquirers to make important commitments in this area. Thirdly, this agreement offers growth prospects for VUP's French and European publishing businesses.”
We’ll keep you updated as to what happens with the firm’s valuable franchises, including The Thing, Half Life, Warcraft and No One Lives Forever, as it breaks.
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