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FT: Microsoft to Argue that EU Assessment of Market "Incorrect"

Authored by Mark Hefflinger on September 28, 2004 - 9:30am.
Brussels -- The Financial Times reported on Tuesday that Microsoft plans to argue that the European Commission's antitrust ruling against the U.S. software giant was misguided because the European market for media players is far more varied than the Commission previously claimed. In March, the EU found Microsoft in breach of European antitrust laws; Microsoft's appeal of that decision will be heard in court later this week. Microsoft told the Financial Times that "much of the evidence that the Commission presents on this issue is incorrect". What's more, Microsoft told the Financial Times that "all signs point to a growing, vibrant media player market, with neither media players nor media formats showing any signs of 'tipping' to Microsoft technologies". As proof positive of its claim, the company cited the introduction of new music services by Apple and Sony and Yahoo's recent acquisition of Musicmatch.
tags: Microsoft | Market | EU | FT | Incorrect |

FT: Google "Testing Water" for Possible $15 Billion Online IPO in 2004

Authored by Mark Hefflinger on October 24, 2003 - 10:21am.
San Francisco -- The Financial Times reported on Friday that search engine Google has "tested the waters" for a potential initial public offering (IPO) of stock, in an online auction of shares that would balance the playing field between financial institutions and individual investors. Google chief financial officer George Reyes reportedly met a number of leading investment bankers last week to discuss a possible IPO for the company. A source told FT.com that the IPO could happen as early as March of next year, with Google being valued at $15-$25 billion. The Wall Street Journal is predicting that the IPO could be the most valuable "since the tech bubble burst in 2002."
tags: Internet | IPO | Google | FT | Testing Water |

FT: Vivendi Looks at Plan to Avoid $2 Billion in Taxes

Authored by Mark Hefflinger on May 5, 2003 - 8:09am.
Paris -- Vivendi Universal is studying a plan to sell and buy back parts of its U.S. entertainment business to avoid U.S. tax liabilities of up to $2 billion, according to a report in Monday's Financial Times. The idea of a sale and repurchase is an effort to avoid break-up liabilities Vivendi would face if it split up the subsidiary combining Universal Studios, television and theme park assets. U.S. tax authorities and regulators would probably not endorse such a scheme. Vivendi declined to comment on the FT report.
tags: Vivendi | Taxes | FT |

FT: Vivendi Universal To Sell Maroc Telecom Stake

Authored by Mark Hefflinger on March 21, 2003 - 4:33am.
Paris -- In an effort to sustain its liquidity, French media giant Vivendi Universal on Friday initiated proceedings to sell its 35 percent stake in Maroc Telecom of Morocco, which Vivendi purchased for more than $2 billion in 2000. According the Financial Times, Vivendi has appointed bankers from France's Credit Agricole to locate potential buyers. In related news, Vivendi on Friday also presented an initial sale notice for its U.S. entertainment assets, which include Universal Pictures, Universal Music Group and the USA and Sci Fi cable TV networks. Vivendi is carrying more than $20 billion of debt.
tags: Vivendi Universal | Telecom | FT | Maroc |

FT: Vivendi Plans To Keep Universal Music

Authored by Mark Hefflinger on March 3, 2003 - 2:05am.
New York -- Franco-American media giant Vivendi Universal plans to retain its music business, Universal Music, the Financial Times reported on Monday. Company directors have adopted a reorganization plan that will enable the company to control Universal Music for another two years. Aiming to raise 6 billion euro ($6.5 billion) this year, Vivendi will hold a board meeting on Thursday to discuss the partial sale of some of its entertainment assets. A report also surfaced last week that struggling AOL Time Warner may be looking to sell its Warner Music Group to U.K. major record label EMI.
tags: Universal Music | Vivendi | FT |

FT: Reuters To Restructure, Shed 1,000 Jobs

Authored by Mark Hefflinger on February 14, 2003 - 3:05am.
London -- Reuters, the troubled financial news and information provider, will next week announce plans to focus on its core information services and cut more than 1,000 jobs, according to a report in Friday's Financial Times. The paper said that Reuters will announce cutbacks on technology in its latest attempt to rebuild profits and sales in the financial services industry. The 151-year-old company has already shed 2,000 workers in an effort to cut losses. Reuters declined comment on the report in the Financial Times.
tags: Jobs | FT | Shed | Restructure |