The French media conglomerate is in talks to divest its entire publishing business, Vivendi Universal Publishing, in a deal that could bring in more than $5 billion. Vivendi also may be considering a sale of its 44% stake in French telecom Cegetel, sources familiar with the matter have said.
A federal appeals court yesterday refused to reconsider an earlier decision that lifted a rule requiring telephone companies to share their high-speed networks. The court also ordered the FCC to reconsider its rules on what network elements must be shared.
Microsoft Chairman Bill Gates was in Hollywood yesterday to launch Windows Media Player 9, the company's streaming media platform. The company says the new product is a superior alternative to the MPEG-4 streaming standard.
The Yankees Entertainment and Sports network is running an ad campaign that features aggrieved Yankees fans dumping on Cablevision for refusing to carry YES on its basic tier. The spots urge viewers to call Cablevision's customer service number.
Adelphia Communications led a major cable stock plunge yesterday, losing 19% of its total value by falling $1.89 a share to close at $8.01. Four other MSOs reached new 52-week lows, including Comcast, Cablevision, AOL Time Warner and AT&T. Reports indicate that investors are worried about leverage issues, corporate struture and overall market trends.