January 12, 1998 |
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.
May 22, 1998 |
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.
July 11, 1998 |
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.
February 13, 1997 |
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.
January 9, 1996 |
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."
June 28, 1996 |
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.