Revenues at Vivendi Universal fell by 14% in the three months to June, raising doubts about the price tag put on the company’s US entertainment unit.
Vivendi Universal Entertainment fared particularly poorly with revenues slipping 15% to Â1.52 billion. The division, which includes Universal Pictures and USA Networks, is currently up for sale and has been valued at $14 billion.
Earlier this week, Metro Goldwyn Mayer withdrew from the bidding, claiming that the asking price was too high (see Havas To Consolidate Global Operations).