Seagram Co. nears deal to sell PolyGram film library to MGM

Article Abstract:

Polygram Filmed Entertainment's film library is expected to be sold by its parent organization, Seagram Co., a manufacturer of alcoholic beverages, to Metro-Goldwyn-Mayer Inc., an entertainment company, for about $400 million. The purchase deal, if consummated, will enable Metro-Goldwyn-Mayer to gain access to the film library, and in the process, enhance its financial performance. The entertainment firm has expressed plans to make use of the proceeds of a proposed stock sale to finance the acquisition. Seagram Co. gained control over PolyGram Filmed Entertainment by virtue of its purchase of the latter's parent firm, PolyGram NV, for $10.4 billion.

Comment:

Is set to sell the film library of its unit, PolyGram Filmed Entertainment, to Metro-Goldwyn-Mayer for about $400 mil

Asset sales & divestitures, Acquisitions & mergers, Motion Picture Production, Motion Picture and Video Production, Motion Picture & TV Production, Movie production, Metro-Goldwyn-Mayer Inc., PolyGram Filmed Entertainment Inc., Seagram Co.

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Digital videodisks move into mainstream

Article Abstract:

Digital videodisk (DVD) is moving into the main stream as video dealers and retailers see the technology grow more rapidly than anticipated in the US. The new technology is touted as superior to videocassettes and videocassette recorders, with a sharper picture. A year after the DVD's launching in the US and facing political and technological hurdles, signs emerge that it is making inroads with mainstream consumers. The move into mainstream is also attributed to virtually all major studios agreeing to issue movies on DVD.

Comment:

Digital videodisk moves into main stream as video dealers and retailers see technology grow more rapidly than expected in US

Market information - general, Audio and Video Equipment Manufacturing, Video Discs, Home Video Disc Players, Videodisks, Videodisk players

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Hollywood turns the other cheek

Article Abstract:

Analysts say that most supporters of Al Gore in the entertainment industry won't defect even after his choice of Joe Lieberman as his vice presidential running mate.

Public affairs, MOTION PICTURES, Political activity, Brief Article, Political aspects, Motion picture industry, Movie industry, Gore, Albert, Jr., Lieberman, Joseph I.

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