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9 billion) to acquire BT PLC of Britain's stake in Cegetel in order to ensure control of the unit in the face of a 13 billion euro ($12 The French government, which firmly backed Lagardere's bid, praised the plan and said any concerns would be countered by commitments from the company to publish the widest possible range of works "I know Hachette will scrupulously respect the editorial freedom of the (publishing) houses that belong to VUP's French arm," Culture Minister Jean-Jacques Aillagon said Chairman Jean-Rene Fourtou said in a statement the sale of the European and Latin American assets "contributes to lowering Vivendi Universal's debt, which is an absolute prerequisite for a turnaround 42 billion) for the sale of Vivendi Universal Publishing in its entirety Vivendi shares were down 6 Vivendi to Sell Publishing Assets Oct 23, 6:01 PM EST PARIS (AP) â€â€? Vivendi Universal said Wednesday it plans to sell its European and Latin American publishing businesses to French media and defense conglomerate Lagardere SCA, raising badly needed cash to reduce its debts 22 billion) including debt 5 billion euros ($3 S "I think it's a pity if to sell VUP in order to reinforce their grip on Cegetel," said Lionel Parisol of CIC EIFB Those include dictionary publisher Robert and Larousse and fiction publishers Robert Laffont and Plon 72 percent to 12 S The sale would mark the breakup of Vivendi Universal Publishing's U publisher Houghton Mifflin 25 billion euros ($1 72 percent to 12 Analysts said the quick deal to sell the publishing units indicated that Fourtou was determined to fight Britain's Vodafone PLC's bid for Vivendi's telecommunications arm, Cegetel S -based Carlyle Group LP and Eurazeo of France 20) in trading on the Paris stock exchange But faced with bids significantly lower than that, Vivendi opted to sell the European and Latin American publishing divisions separately The company had hoped to raise 3 and European divisions and ease fears among France's political and cultural establishment that its French-language publications would fall into foreign hands fund Kohlberg Kravis Roberts & Co " He said it also "meets the cultural and heritage concerns (in France) that relate to publishing The planned sale requires regulatory approval and could face scrutiny in France because it would allow Vivendi Universal Publishing-Hachette Livre to dwarf rivals such as Groupe France Loisirs, owned by Germany's Bertelsmann AG, and French publishing houses like Galimard 7 billion) offer by Vodafone for the 85 percent of Cegetel it doesn't already own Vivendi had received two other offers for its publishing business: one from a group led by BNP Paribas' investment arm, PAI, and U 6 billion of debt, racked up during a whirlwind of costly acquisitions under former chairman Jean-Marie Messier Vivendi shares were down 6 But it was unclear whether it would be enough Vivendi did not disclose the exact price of the sale, which excludes U 5 euros (US$12 Vivendi needs around 4 billion euros ($3 2) on the Paris stock exchange in early trading Wednesday " The media group is struggling under $18 Vivendi will in the end likely receive a little more than 1 billion euros ($980 million) in cash for the sale But it said the deal values the businesses being sold at an estimated 1 Lagardere's Hachette Livre publishing unit is France's second biggest publisher after Vivendi The company said it plans to restart negotiations for the sale of Boston-based Houghton Mifflin, in the hope of luring more bidders S 5 euros ($12 , and a second one from a consortium led by U Last year, he was named one of Fortune magazine's 50 "Most Powerful Black Executives " Unlike Fox's "American Idol," in which amateur singers aspire to win a recording contract, "Who's Got Game" makes no professional promises I wasn't myself in 'The Magic Hour,'" said Johnson, who will visit neighborhoods in cities such as Washington, New York, Chicago, Houston and Los Angeles in the next two months scouting for contestants Johnson said Wednesday he will produce and occasionally appear in the MTV reality show "Who's Got Game," documenting the lives of 12 street basketball players competing for fame and a $100,000 prize Set to debut this summer, the show would include 10 episodes showcasing the history of the players, their interactions with each other off the court and ending with a basketball game "It's about the street ballplayers "It's not about me," he said Subsequently, he's built a business empire including movie theaters, restaurants, shopping centers and a bank I grew up playing street basketball Magic Johnson Bounces Back Onto TV Jan 30, 7:21 AM EST Basketball great Earvin "Magic" Johnson is getting back into the TV game after fouling out in 1998 with his talk show " Contestants will be limited to men over 18, but Johnson said he would consider a new version with women if the show succeeds "This is what I'm all about: basketball "They're not as famous as guys in college and the NBA, but they're famous in their own neighborhoods or playgrounds Johnson said he will be "in and out" of the show in a background role Players would be eliminated from the teams after each show and the final episode would be a one-on-one competition, Johnson said This is their shot for everybody around the world to finally get to know them Besides the money, the winner will get his neighborhood court refurbished and renamed in his honor " Johnson, who announced he was HIV-positive in 1991, helped the Los Angeles Lakers win five championships during his National Basketball Association career Johnson said he's trying to play to his strengths as an athlete after the ill-advised attempt to be a comedian-interviewer on his own late-night talk show, which was pummeled by critics and canceled after two months "I want the guys who are just street ballplayers," he said |
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