Vivendi Universal is to restructure and cut costs at its French television business, Canal+, according to press and analyst reports. Over 200 jobs are likely to go as Vivendi steers towards hitting its broader target of a 35% EBITDA growth at Canal+.
ABN Amro believes that Vivendi will miss this target, given that profits at the French premium channel are on the decline and its international operations are fast spending cash.
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