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Vivendi, the worldwide media conglomerate, is exploring a sale of its See Tickets division and the organiser of the annual Love Supreme music competition in east Sussex.
Sky Information has learnt that Paris-headquartered Vivendi, which owns the French broadcaster Canal Plus and the advertising companies big Havas, is working with advisers on a possible disposal of elements of its Vivendi Village subsidiary.
Metropolis sources stated on Monday night that Vivendi was working with advisers on a course of that’s anticipated to kick off imminently.
Insiders, cautioned, nonetheless, that no ultimate selections had been taken and that gross sales of the 2 companies weren’t inevitable.
A proper public sale is, nonetheless, sure to attract curiosity from a spread of economic and trade bidders.
See Tickets, which operates in eight European markets together with the UK, offered 39 million tickets final yr to sporting occasions, museums, concert events, festivals and different dwell occasions.
That determine in contrast with the 25 million it offered in 2019, the final yr earlier than the COVID-19 pandemic introduced dwell leisure to a worldwide standstill.
The ticketing firm additionally trades within the US.
Vivendi Village’s festivals arm incorporates practically a dozen dwell exhibits, together with Love Supreme and Kite, a music and concepts competition which this yr featured Rachel Reeves, the shadow chancellor, the comic and broadcaster David Baddiel and The Pretenders.
Sources stated that Vivendi had concluded that neither the ticketing or the festivals companies have been of adequate scale to compete with trade giants equivalent to LiveNation, Ticketmaster and AEG.
It was unclear whether or not any of these firms would wish to purchase the Vivendi belongings, or if they might be allowed to from an anti-trust perspective.
The 2 divisions are additionally sub-scale in comparison with Vivendi’s different operations, the sources added.
It’s understood that the rest of Vivendi Village’s operations – which embrace its iconic L’Olympia venue in Paris and a cinema chain in Africa – will not be a part of the strategic assessment course of.
Vivendi Village employs greater than 650 individuals, based on the corporate’s web site.
In its most up-to-date monetary outcomes, Vivendi, which additionally owns a stake in Common Music Group, stated the Villages unit recorded revenues of €238m final yr.
Within the first half of this monetary yr, it reported gross sales of €81m.
“The enterprise is principally pushed by ticketing (See Tickets), which represents 70% of general revenues and is experiencing sturdy development, due particularly to the enlargement of its buyer base to new market segments past its conventional actions within the discipline of music,” the corporate stated.
Vivendi ranks amongst France’s most distinguished firms, and is among the many sponsors of the Rugby World Cup going down throughout the nation till subsequent month.
It has a market capitalization of roughly €8.7bn.
A Vivendi spokesperson declined to touch upon Monday night.
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