|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||23.30 - 23.59|
|52 Week Range||16.60 - 26.42|
|Beta (5Y Monthly)||0.74|
|PE Ratio (TTM)||15.23|
|Earnings Date||Jul 30, 2020|
|Forward Dividend & Yield||0.60 (2.55%)|
|Ex-Dividend Date||Apr 21, 2020|
|1y Target Est||24.84|
French publishing and media group Lagardere, which is caught up in a battle among its shareholders, said on Thursday it was considering a bid for Simon & Schuster, the publisher behind novelists including Stephen King and Annie Proulx. Lagardere, which already owns book publishing houses including Hachette, said the group faced what was likely to be a competitive bidding process, but it was keen on the purchase. "Of course we are interested in the acquisition of S&S," Arnaud Nourry, who runs Lagardere's publishing unit, told analysts after the broader group reported a sharp revenue fall and a first-half loss of 481 million euros ($569 million).
French media giant Vivendi reported a 3.8% drop in first-half core operating profit on Thursday as growth in its music division was offset by steep declines in the group's advertising and other businesses. Universal Music Group, Vivendi's most-prized asset, reported a 3.5% increase in revenues and a 17% jump in core operating profit for January-June, driven by a rise in online subscriptions and streaming revenues. Vivendi said its overall adjusted earnings before interest, taxes and amortisation fell to 735 million euros ($866.79 million).
Spotify Technology SA (NYSE: SPOT) has signed a new licensing deal with Vivendi SA's (OTC: VIVHY) Universal Music Group, which will give it access to the music company's catalog for streaming, the Wall Street Journal reported Wednesday.What Happened Universal also signed up for the streaming service's "two-sided marketplace," where it will pay for marketing, data, and analytics. Terms of the deal have not been disclosed.The partnership will involve Universal testing and developing tools as well as servicing and marketing products that the Swedish company hopes both artists and music companies will buy."Our plan is to be chief experimental officer," Universal CEO Lucian Grainge said on the deal."We'll take this experimentation and really drive it forward now with what we know about consumers and what we know about each other's data."Talks between the music industry constituents and Spotify can take years and the companies had first discussed the so-called two-sided marketplace ahead of Spotify going public in 2018, the Journal noted.Why It Matters Universal holds a 40% market share in recorded music in the United States.The deal with the music company comes at a time when the Stockholm-based Spotify is entering new markets in Russia and 12 other Eastern European nations. The music streamer would hope to attract new talent from these regions, many of which belong to Universal's labels, to its platform, according to the Journal. Spotify is also said to be under pressure from investors to pursue profitability, but the company says it continues to prioritize investing in growth.Price Action Spotify shares closed 4.8% higher at $289.62 on Wednesday and fell 0.4% in the after-hours. On the same day, Vivendi OTC shares closed 0.5% lower at $27.45.See more from Benzinga * SiriusXM Buying Stitcher Podcasting Unit For 0M From Scripps: Report * Apple Pays Hacker From India 0,000 For Discovering Serious 'Sign In With Apple' Vulnerability(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.