US court asks Vivendi to pay Messier $24 million

MUMBAI: A US court on Monday directed Vivendi Universal to pay former chief executive Jean-Marie Messier 20.6 million euros ($23.6 million) in a severance deal, one year after his exit from the media group.

The New York state court order contradicts an earlier French ruling and Vivendi now says it would challenge the decision by the tribunal after seeking to void Messier's termination agreement, according to media reports.

Messier had to exit the company last year after spiralling investor revolt, with the company blaming him for taking Vivendi to the brink of bankruptcy. Messier claims he was owed the severance payment written into the American part of his contract. However, his successor Jean-Rene Fourtou was quoted as saying that he deserves "nothing", reports say.

While the media baron was responsible for turning around Vivendi from a staid water-and-sewage firm into one of largest media empires, Messier was forced to give up a $17.5-million apartment in New York and other lavish trappings of his role as chief executive of the world's second biggest media company, after being sacked in a boardroom coup last year.

Angry shareholders had then felt that as the company's debts piled up, Messier misled them about the company's financial health at the fag end of his career.

Vivendi has since put up for sale the US entertainment business that was central to Messier's vision. The board is expected to review six bids for the Universal film, television and theme park business in a meeting in Paris today, says a Reuters report.

Latest Reads
TLC firmly establishes itself as a clear leader in lifestyle genre with 24% upswing in ratings

TLC, leading lifestyle channel from Discovery Communications India, soared to the top of Lifestyle genre with a 24% increase in ratings according to the latest BARC data*. TLC secured 8640 impressions ‘000 in week 11 as compared to 6972 impressions ‘000 in Week 10. The upsurge in ratings is...

Television TV Channels Factual & Documentary
Balaji Telefilms appoints Jyoti Deshpande as non-executive additional director

Balaji Telefilms has appointed Jyoti Deshpande as the non-executive additional director. The appointment, which was approved following a circular resolution by its board on 22 March, is in compliance with share subscription agreement entered into between Balaji and Reliance Industries Ltd (RIL) on...

Television TV Channels People
Aaj Tak relaunches 'Seedhi Baat'

MUMBAI: TV Today Network has relaunched its big-ticket Hindi show Seedhi Baat. The show will be hosted by Sweta Singh, news anchor and executive editor of special programming at Aaj Tak. The first episode of the show, which  will air at 8 pm on 24 March, will feature BJP president Amit Shah as the...

Television TV Channels News Broadcasting
Dsport tops BARC ratings with Nidahas Trophy viewership

MUMBAI: Dsport, which launched last year in February, became the top ranked sports channel according to Broadcast Audience Research Council (BARC) all-India data in week 11. Rishtey Cineplex attracted a big chunk of the Hindi-speaking audience while competing with pubcaster DD Sports.

Television TV Channels Sports
Zee TV’s ‘Ishq Subhan Allah’ year’s second highest weekday fiction launch across GECs

Zee TV recently put the spotlight on Triple Talaaq with its new fiction show Ishq Subhan Allah introducing viewers to the turbulent love story of Zara (Eisha Singh) and Kabeer (Adnan Khan) – an Islamic couple dealing with the issue first-hand. Raising pertinent questions about women having a say...

Television TV Channels GECs
&Privé HD’s Unforgettables at 9 property celebrates movies that have left an indelible mark

There are some movies that become a part of your life and you can’t help but watch them over and over again. There are some characters that reveal a hidden element of yourself that results in an instant connection. &Privé HD’s property ‘Unforgettables at 9’ brings such classics every Monday to...

Television TV Channels English Entertainment
Living Foodz raises a Toast to India’s finest restaurants, night

India’s premium lifestyle channel, Living Foodz organized the second edition of Epicurean Guild Awards at an evening which saluted the game changers in India’s fine-dining, nightlife and lifestyle entertainment space. Held on March 22 at Sahara Star, Mumbai, the event was curated by Chef Manu...

Television TV Channels English Entertainment
Zee Anmol regains top Hindi GEC spot across genres

BENGALURU: Zee Entertainment Enterprises Ltd’s (Zeel) free-to-air (FTA) Hindi GEC Zee Anmol has returned to second place in Broadcast Audience Research Council (BARC) list of top 10 channels across genre in week 11 of 2018 (Saturday, 10 March 2018 to Friday, 16 March 2018). The numero uno position...

Television TV Channels Viewership
Emerald Media buys minority stake in Global Sports Commerce

MUMBAI: Emerald Media, the Pan-Asia company backed by global investment firm KKR, has acquired a significant minority stake in sports technology and management company Global Sports Commerce (GSC) through a combination of primary and secondary investments.

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories