Vivendi: conditions not right for Digital+

By Julian Clover | May 1, 2009

Vivendi chief executive Jean-Bernard Levy has told his company’s AGM that the right conditions for reaching a deal for Digital+ had yet to be met. His comments came as current owners Prisa posted the worst subscriber numbers for the Spanish DTH platform since June 2006.

The announced 2,001,000 represented a fall of 34,000 subscribers in the first quarter. Average subscriber revenues of €44.3 was marginally down on the €44.5 of Q4 2008. The division recorded subscriber revenues of €275.36 million, out of a total €391m, and EBITDA of 80.29m.

Prisa is in the process of completing an extension to its bank loans to March 31, 2010, a move that is expected to complete on May 14.
Levy said Vivendi was continuing to monitor developments, but declined to say whether any talks with Prisa were still taking place.