Polygram International

Ever since Jerry Moss and Herb Alpert sold A&M Records to PolyGram International, insiders have wondered whether the Dutch-owned conglomerate could salvage the boutique identity of the revered Hollywood label--home to pop stars such as Cat Stevens and the Police. Working in the shadow of music industry legends has been no picnic, but Al Cafaro, A&M's president and chief executive, has succeeded in capturing new talent as well as bolstering profits.

Federal regulators have given Seagram Co. the green light to acquire European music giant PolyGram in a $10.4-billion transaction that would create the world's largest record corporation. Seagram and Philips Electronics, the Dutch conglomerate that owns 75% of PolyGram, said this week that the 30-day waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act expired without a request for additional data from the Federal Trade Commission--a clear signal that U.S.

PolyGram Chief Executive Alain Levy is a contrarian. Despite skepticism on Wall Street and in Hollywood about the short-term prospects of the multibillion-dollar company he runs and the current health of the company's core businesses, music and movies, the unflappable Frenchman prefers to take the long view. "There's hysteria about the state of the music business . . .

To use the language of a gambler, Edgar Bronfman Jr., rather than fold, is doubling down. Just a few weeks ago, some in Hollywood and on Wall Street speculated that Bronfman might go so far as to divest his entertainment holdings altogether out of frustration with the performance of his Universal Studios Inc. Instead, the Seagram Co. scion is pushing all his chips onto the table by buying European entertainment conglomerate PolyGram for $10.

More changes are expected at PolyGram in the weeks ahead, sources said. The Dutch-owned corporation is likely to restructure its Polydor music label, leaving the catalog and artists under its A&M sector while moving Elton John's Rocket label over to its Island Group division. PolyGram executive Johnny Barbis is expected to return to New York to assume a presidency post at Island Records, where he will work for Davitt Sigerson, who could be installed as Island chairman as early as this week.

To use the language of a gambler, Edgar Bronfman Jr., rather than fold, is doubling down. Just a few weeks ago, some in Hollywood and on Wall Street speculated that Bronfman might go so far as to divest his entertainment holdings altogether out of frustration with the performance of his Universal Studios Inc. Instead, the Seagram Co. scion is pushing all his chips onto the table by buying European entertainment conglomerate PolyGram for $10.

Federal regulators have given Seagram Co. the green light to acquire European music giant PolyGram in a $10.4-billion transaction that would create the world's largest record corporation. Seagram and Philips Electronics, the Dutch conglomerate that owns 75% of PolyGram, said this week that the 30-day waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act expired without a request for additional data from the Federal Trade Commission--a clear signal that U.S.

European entertainment conglomerate PolyGram said Wednesday that it took a $66-million charge related to a previously disclosed reorganization of its music operations, much of that revamping in the company's sluggish Motown Records unit. The music and film giant said that as a result of the charge, its 1996 profit fell 18% to $349 million from $426 million. The numbers reflect Netherlands guilders converted to U.S. dollars at the Dec. 31 exchange rate.

European entertainment conglomerate PolyGram agreed on Monday to buy out MCA Inc.'s 50% stake in their Gramercy Pictures joint venture. Gramercy, which was established in 1992, is a distributor of smaller, specialized pictures for both PolyGram and MCA's Universal Pictures unit. The bulk of the films distributed to date have been PolyGram-financed films, with the biggest hit being PolyGram's "Four Weddings and a Funeral."

After a 10-hour meeting Thursday in the Netherlands with Dutch parent Philips Electronics, entertainment giant PolyGram put its official bid on the table Thursday for the Metro-Goldwyn-Mayer studio, according to a source close to the company. Sources estimate the bid at between $1 billion and $1.3 billion. A PolyGram spokeswoman said company executives had no comment, but sources said it was an all-cash offer. PolyGram, whose music division is No.

More changes are expected at PolyGram in the weeks ahead, sources said. The Dutch-owned corporation is likely to restructure its Polydor music label, leaving the catalog and artists under its A&M sector while moving Elton John's Rocket label over to its Island Group division. PolyGram executive Johnny Barbis is expected to return to New York to assume a presidency post at Island Records, where he will work for Davitt Sigerson, who could be installed as Island chairman as early as this week.

PolyGram on Wednesday agreed to buy a library of 1,051 film titles for $225 million, including such modern classics as "Platoon," "When Harry Met Sally" and "The Graduate." The collection was owned by French bank Credit Lyonnais. It amassed the titles through bailouts, bankruptcies, foreclosures and consensual transfers of several film companies over the last few years.

PolyGram Chief Executive Alain Levy is a contrarian. Despite skepticism on Wall Street and in Hollywood about the short-term prospects of the multibillion-dollar company he runs and the current health of the company's core businesses, music and movies, the unflappable Frenchman prefers to take the long view. "There's hysteria about the state of the music business . . .

European entertainment conglomerate PolyGram said Wednesday that it took a $66-million charge related to a previously disclosed reorganization of its music operations, much of that revamping in the company's sluggish Motown Records unit. The music and film giant said that as a result of the charge, its 1996 profit fell 18% to $349 million from $426 million. The numbers reflect Netherlands guilders converted to U.S. dollars at the Dec. 31 exchange rate.

Actress Jodie Foster has settled her lawsuit against European entertainment giant PolyGram, where she has a production deal, involving a dispute over whether she would star in a film called "The Game." In a joint statement, both sides said they regret that the fight ended up in court. Foster said she and her Egg Pictures will continue their PolyGram association.

After a 10-hour meeting Thursday in the Netherlands with Dutch parent Philips Electronics, entertainment giant PolyGram put its official bid on the table Thursday for the Metro-Goldwyn-Mayer studio, according to a source close to the company. Sources estimate the bid at between $1 billion and $1.3 billion. A PolyGram spokeswoman said company executives had no comment, but sources said it was an all-cash offer. PolyGram, whose music division is No.

PolyGram on Wednesday agreed to buy a library of 1,051 film titles for $225 million, including such modern classics as "Platoon," "When Harry Met Sally" and "The Graduate." The collection was owned by French bank Credit Lyonnais. It amassed the titles through bailouts, bankruptcies, foreclosures and consensual transfers of several film companies over the last few years.

Actress Jodie Foster has settled her lawsuit against European entertainment giant PolyGram, where she has a production deal, involving a dispute over whether she would star in a film called "The Game." In a joint statement, both sides said they regret that the fight ended up in court. Foster said she and her Egg Pictures will continue their PolyGram association.

European entertainment conglomerate PolyGram agreed on Monday to buy out MCA Inc.'s 50% stake in their Gramercy Pictures joint venture. Gramercy, which was established in 1992, is a distributor of smaller, specialized pictures for both PolyGram and MCA's Universal Pictures unit. The bulk of the films distributed to date have been PolyGram-financed films, with the biggest hit being PolyGram's "Four Weddings and a Funeral."

Ever since Jerry Moss and Herb Alpert sold A&M Records to PolyGram International, insiders have wondered whether the Dutch-owned conglomerate could salvage the boutique identity of the revered Hollywood label--home to pop stars such as Cat Stevens and the Police. Working in the shadow of music industry legends has been no picnic, but Al Cafaro, A&M's president and chief executive, has succeeded in capturing new talent as well as bolstering profits.