Vivendi is owned by French billionaire Vincent Bollore, who has positioned himself as a powerful right-wing media baron in recent years and is looking to focus more on TV, advertising and publishing. With Vivendi shedding a majority stake in its crown jewel, its own shares sank by more than 15 percent on the Paris CAC 40 stock exchange. UMG is based in California but has been owned by French media conglomerate Vivendi. Trade magazine Music Business Weekly said it had been "expecting an impressive opening for UMG on the Amsterdam Stock Exchange today -– but even we weren't expecting this." Those investments have paid off with its new valuation eclipsing the $39 billion set the night before its listing on the Euronext Amsterdam index. Last year, it bought Bob Dylan's entire song catalogue for $300 million, one of the biggest acquisitions in music history. Universal Music Group (UMG) has a roster of four million titles and includes dozens of labels from Def Jam (Kanye West,Rihanna) to EMI Records (Justin Bieber, Metallica) to Capitol Records (Queen, Katy Perry). With shares up by more than a third at the close of their first day, the US-based music giant found itself valued at €45.5 billion ($53.3 billion).
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