Vivendi Losses Mount

Officials from Vivendi Universal Games have release their report for the company’s fiscal first quarter. During this period the company’s game division posted revenues of €77 million ($94.36m) with an operating loss of €45 million ($55.15m) – almost double that of the same period last year. Parent company Vivendi Universal though, has made some progress towards lessening its debts and 2004 is described as a “transition year” for the games division – with many of these first quarter losses being attributed to the cancellation of titles and the bringing in of a new management team. Source: GameSpot