(Reuters) – Vivendi on Monday reported a 7.9% increase in its turnover in the first quarter, supported by strong growth in its pay-TV business with Canal+ and its communication agency Havas.
The turnover of the French media giant, controlled by Vincent Bollor, amounted to 2.38 billion euros during the first three months of the year, against 2.10 billion a year earlier.
Canal+, which has become the group’s most important asset since the split from Universal Music Group, saw its sales increase by 6% to 1.45 billion euros.
Havas Group’s sales amounted to 591 million euros, up 11.3% at constant exchange rates and scope.
Editis, whose merger in sight with Hachette in the context of the proposed takeover of Lagardre by Vivendi raises fears in terms of competition in the publishing sector, on the other hand saw its sales decrease by 1.7%.
Vivendi raised its offer last February for Lagardre, which also owns Paris Match and the Journal du Dimanche, and is preparing to pay up to 2 billion euros to acquire all of its listed shares.
If its takeover bid, which will close on May 20, is successful, Vivendi has indicated that it wants Arnaud Lagardre to retain his position at the head of the company created by his father Jean-Luc Lagardre.
(Report Mathieu Rosemain, French version Juliette Portala, told by Bertrand Boucey)