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December 2, 2009

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Firm sells two entertainment club units in Europe

Monday, Jan. 17, 2005 | 9:34 a.m.

Vivendi Universal SA, owner of the world's largest music company, sold its U.K.-based Universal Group Direct and France-based Dial units to Platinum Equity Holdings LLC for an undisclosed amount.

The acquisition was completed in late December, Beverly Hills, California-based Platinum Equity said today in a news release.

The two businesses, which have about 1.5 million active customers and generate annual revenue of about 170 million euros ($223 million), sell DVDs, CDs and video games.

The units are an attractive investment because they take advantage of the expanding DVD market in Europe, Brian Wall, Platinum Equity's managing director for Europe said in the statement.

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