Vivendi Reportedly in Discussions to Sell Games Unit
Source: Tom's Hardware – Keywords: vivendi, reportedly, in, discussions, to, sell, games, unit Category : Miscellaneous
Vivendi Universal is reported to be holding discussions with Microsoft Corporation over the sale of part of Vivendi Universal Games (Vivendi's video game business), according to anonymous Vivendi sources. Vivendi has developed several highly successful and popular video games, including Diablo II, Warcraft and "Lord of the Rings," based on the book trilogy. Microsoft has been very open about its intentions to acquire video game companies that develop video games as part of its push to add new titles to Microsoft's Xbox games portfolio. So far, Microsoft has acquired a 49% interest in Rare Ltd., a British company previously owned by Nintendo, for $375 million.
In September last year, Vivendi's C.E.O., Jean-Rene Fourtou, issued a statement that Vivendi was considering its options for possible sale of its Games business unit, reported to include a public stock offering and a partial or complete sale of Vivendi's assets. Vivendi made no secret of the fact that it has huge debts it needs to pay down. Fourtou is also reported to have also publicly stated that the company planned to retain majority control of Vivendi Universal Games, but that there would likely be a trimming of this unit to reduce Vivendi's debts. Vivendi is also rumored to be in discussions with Electronic Arts and Sony Corporation over the sale of its Games business unit.
Some financial analysts have privately stated that a sale of Vivendi's entire Games unit could bring as much as $1 billion to Vivendi. By selling its Games business unit, Vivendi could raise as much as $1.5 billion, and substantially reduce its debt.
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