Vivendi Cuts Debt by a Third Since July

Vivendi Universal said it trimmed its debt by a third since July 1 to about $13.8 billion after the media company sold assets including U.S. publisher Houghton Mifflin Co.

The Paris-based company has sold about $7 billion worth of assets since Jean-Rene Fourtou replaced Jean-Marie Messier as chief executive six months ago, Vivendi said.