Vivendi Universal Sales for Fourth Quarter Fall by 50%
Paris -- French media conglomerate Vivendi Universal on Thursday reported that sales dropped by 50% in the fourth quarter as a strong performance in telecommunications was unable to offset a poor showing in media and entertainment. Since offloading a number of interests last year -- most notably utility unit Veolia Environnement -- the company has seen sales plummet from $20.1 billion last year to just $9.1 billion. Universal Music's sales dropped by 19% to $2.1 billion, while Universal Entertainment's sales fell by 4% to $2.1 billion as well.
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