What is the relationship between Vivendi and Universal Music Group in the context of the input sentence. Choose an answer from: product/material produced; manufacturer; distributed by; industry; position held; original broadcaster; owned by; founded by; distribution format; headquarters location; stock exchange; currency; parent organization; chief executive officer; director/manager; owner of; operator; member of; employer; chairperson; platform; subsidiary; legal form; publisher; developer; brand; business division; location of formation; creator.

Vivendi now owns the largest record label Universal Music Group and French pay-TV operator Canal Plus (Paris: FR0000125460 - news ) , as well as a 19.9 percent stake in Telecom Italia (Other OTC: TIAJF - news ) and about 1 percent of Spain's Telefonica (Amsterdam: TA6.AS - news ) .

Answer: subsidiary