Seagram snares PolyGram

Article Abstract:

Seagram, once the leading liquor distiller across the globe, agreed on May 21, 1998, to acquire PolyGram for $10.6 billion and become the largest music firm in the world. Seagram will help support financially the agreement by spinning off the company's Tropicana juice division to generate up to $4 billion. Seagram will also sell the movie and TV business of PolyGram to raise about $1 billion. The PolyGram acquisition will make Seagram a worldwide entertainment leader, generating 72% of the company's revenue from movies, theme parks, music and TV.

Comment:

Agrees on 5/21/98 to acquire PolyGram for $10.6 bil and become the largest music firm in the world

Integrated Record Production/Distribution, Records & Tapes, Sound recordings, Article, PolyGram

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Seagram, Vivendi likely to confirm talk of deal today

Article Abstract:

Seagram is expected to comment on speculations that it is negotiating its sale to French communications conglomerate Vivendi. A stock deal for entertainment and liquor group Seagram could amount to more than $34 billion according to observers. The Bronfman family, owner of a 25% controlling stake in Seagram, has reportedly given Vivendi exclusive rights to discuss an acquisition. A takeover by Vivendi, estimated at $70 per share, would result in a premium for Seagram's share price which is currently $53 per share.

Canada, Water Supply and Irrigation Systems, Water Utilities

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Vivendi CEO: media giant in making

Article Abstract:

French company Vivendi SA became a major force in Europe's media, Internet and phone industries under the leadership of company CEO Jean-Marie Messier. Despite these achievements, Messier plans to further diversify the company's product line and scope via the planned acquisition of Joseph E Seagram and Sons Inc for $34 billion in stock. The completion of this buyout deal will position Vivendi as the biggest music company and a giant in movies and theme parks.

Broadcasting and Telecommunications, Communications, Joseph E. Seagram and Sons Inc.

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