Head of French media group Vivendi Universal Mr Jean-Rene Fourtou will replace Mr Barry Diller as chairman and chief executive of the group's US entertainment operations.
Mr Diller yesterday quit as chief of Vivendi Universal Entertainment, saying "My executive role was never intended to be permanent".In a statement, Mr Diller - who took on the "provisional" role at the top of Vivendi's US entertainment operations in December - said his USA Interactive group will remain a shareholder of Vivendi Universal Entertainment.
"Now that Vivendi Universal has begun a formal process in reviewing options for its entertainment assets, it is appropriate to step aside from any direct management responsibility," he said.As part of the $11 billion sale of USA Interactive's film and television operations to the French media company in December 2001, USA Interactive received $2.5 billion in preferred shares in Vivendi Universal Entertainment.
AFP