Vivendi first-half profits tumble

French media giant Vivendi's net profits dropped by 19.9% to €1.22bn during the first half of 2008. The group improved earnings (EBITDA) in its pay-TV and music activities but the performance at its mobile phone arm was hit. The group explained that the sizeable drop in profit was mostly due to the fact that in the same period last year profits were boosted by the €239m sale of a 10.18% stake in its Canal+ Group... [read full story]