Vivendi Universal boss Jean Marie Messier has survived a marathon meeting
with his board of directors, but he was forced to submit to a new committee's
oversight of his moves.
Messier has been gobbling up media assets -- most recently, regaining control
of USA Networks Inc. -- but he hasn't come up with a coherent strategy for
making his TV, movie and music operations work together. And Vivendi's stock
price has plunged.
So even though he is chairman and CEO, Messier will report to a 'governance
committee' co-chaired by Edgar Bronfman Jr., whose family sold its Seagram Co.
Ltd. liquor and media operation to Vivendi and owns 5.3 percent of that