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UMG Reports Strong Q1 Ahead Of Planned Sale

PARIS, France (CelebrityAccess) — French media conglomerate Vivendi posted solid financial results for their first fiscal quarter, buoyed in part by Universal Music Group.

According to Vivendi, revenue at UMG rose 22.9%% from Q1 2018 to 1.5 billion euros, as the company said it plans to forge ahead with a planned sale of as much as a 50% stake in the label giant.