Vivendi's supervisory board on Tuesday unanimously backed a plan to demerge the group's SFR business as it reduces exposure to telecoms and focuses on media. The French group named Hearst Magazines' Arnaud de Puyfontaine head of media and content activities to run the remaining businesses - Universal Music Group, pay-TV company Canal Plus and Brazilian telecom unit GVT. The supervisory board also confirmed top shareholder Vincent Bollore as chairman of the future Vivendi. The conglomerate is in the midst of a broad revamp to pay down debt and focus on media, selling its stakes in video games publisher Activision Blizzard and Maroc Telecom, as well as agreeing a deal to take full control of Canal+ France.
via Tech News Headlines - Yahoo! News http://news.yahoo.com/vivendi-supervisory-board-backs-demerger-bollore-182211643--finance.html
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