Seagram tries to calm shareholders

Article Abstract:

Seagram Co. Ltd., a large liquor and entertainment company based in Montreal, Quebec, asked stockholders to trust management's wisdom in buying entertainment conglomerate PolyGram NV of the Netherlands for $10.4 billion. Seagram president and chief executive officer Edgar Bronfman Jr. predicted that Seagram will be able to reap annual cost savings of C$300 million expected from the deal. Bronfman explained that Polygram will complement the Universal Studios Inc. operations of Seagram to produce a strong player aside from significant benefits for stockholders. In addition, Seagram absorbed 4% lower operating earnings for the first quarter of fiscal 1999 due to the duller performance of its Asian spirits operations.

Comment:

Asks stockholders to trust management's wisdom in buying entertainment conglomerate PolyGram NV of the Netherlands

Asset sales & divestitures, Netherlands, Foreign operations, Liquor, Distilleries, Integrated Record Production/Distribution, Records & Tapes, Sound recordings, Seagram Company Ltd., Polygram N.V., Article

---

Rogers boosts stake in Cogeco Cable

Article Abstract:

Rogers Communications Inc. increases its stake in Cogeco Cable Inc. to 30 percent.

COMMUNICATION, Communications, Broadcasting and Telecommunications, Cable Television Systems, Cable Networks, Cable and other pay TV services, Mergers, acquisitions and divestments, Telecommunications services industry, Telecommunications industry, Company acquisition/merger, Cable television broadcasting industry, Cable television, Communications industry, Rogers Communications Inc., Cogeco Cable Inc.

---

Similar abstracts:

• Abstracts: Cancom acquisition plan irks investors. Cancom shareholders approve star choice deal
• Abstracts: BCE chairman assures Teleglobe shareholders. BCE takes $1-billion hit to aid sector, Sabia says
• Abstracts: First Marathon shareholders approve takeover. UniHost takeover bid to proceed. Smed sparks interest in wake of takeover bid
• Abstracts: Oxford sees rising vacancies in calgary. Centrefund shareholders kill contract

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.