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BUSINESS BRIEFS.(TO THE POINT)

Investor's Business Daily

| July 02, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MEDIA

Vivendi draws up bidder short list

The French media giant has cut oil billionaire and former media baron Marvin Davis from the running for its U.S. media assets, leaving five suitors. Sources say he wanted Universal Music, which Vivendi plans to keep. Meanwhile, it's mulling whether to fight a U.S. arbitration ruling that it pay ousted CEO Jean-Marie Messier $23.78 mil.

AOL, Bertelsmann tuning venture

Sources say talks are heating up over merging their music units. Warner Music head Roger Ames and BMG chief Rolf Schmidt-Holtz would both have roles in the new unit, but AOL reportedly wants Ames at the helm. Other issues: valuation and antitrust clearance. A deal could leave EMI, which has approached both, out in the cold.

RETAIL

Target beats Sears on retailer list

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