Private Equity's Media Targets

At the height of the last tech boom, shares of French entertainment and communications conglomerate Vivendi traded in the $80-a-share range. Its stock suffered a comedown during the subsequent bust, dropping into the single digits. Vivendi (V) has regained some but not all of its value in recent years. Its market cap, at about $40 billion, is roughly half the valuation of five years ago.

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