If you haven't been watching the news recently the globe might be in just a slight recession. The current economic situation is enough to concern Vivendi's Chief Executive Officer Jean-Bernard Levy about the future of their media company. Mentioning the reduction of expenses it's unknown how this will affect our favorite products at Activision Blizzard.
Vivendi has so far weathered the global recession because new game releases lifted sales at its Activision Blizzard Inc. unit and French customers continued subscribing to its mobile- phone and pay-television services. As more people lose their jobs, they may cut spending on video games and phones, Levy said.
We may end up with a pretty deep and long recession, the 53-year-old executive said. To cope, Vivendi is being very cost cautious and reducing expenses as it continues to integrate acquisitions made over the last two years.
Catch the entire story over at Bloomberg.