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BUSINESS
December 8, 2000 | Bloomberg News
Seagram Co.'s record label has been sued for disseminating songs over the Internet by songwriters and music publishers who claim the rights to hits such as "White Christmas" and "Jailhouse Rock." The plaintiffs--including Elvis Presley Music and Paul McCartney's MPL Communications Inc.--say Seagram's UMG Recordings infringed the copyrights to hundreds of the world's most popular songs. The complaint, filed in federal court in New York, comes three weeks after UMG won a $53.
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NEWS
July 11, 1995 | CLAUDIA ELLER, TIMES STAFF WRITER
He is the quintessential Mr. Nice Guy in a world where nice guys typically finish last. Ron Meyer, who Monday was named president of giant entertainment conglomerate MCA Inc., is defined by friends and rivals alike as one of the most generous, trustworthy, accessible and people-savvy agents in an occupation known for its cutthroat nature.
BUSINESS
December 2, 2000 | Bloomberg News
Vivendi may face new difficulty in its acquisitions of Seagram Co. and Canal Plus after a representative from the French movie industry said he will ask a court to force more concessions from the company. The acquisition, which would create the world's second-largest media company, has been approved by France's audiovisual regulator, CSA. Film representatives are worried the French television broadcaster won't be able to meet its obligation to subsidize French movies.
NEWS
May 22, 1998 | CHUCK PHILIPS and CLAUDIA ELLER, TIMES STAFF WRITERS
Marking the biggest deal in the history of the record business, Seagram Co. agreed Thursday to pay $10.6 billion to acquire global music giant PolyGram N.V., home to such popular and diverse acts as Hanson, LL Cool J, Van Morrison and Luciano Pavarotti.
BUSINESS
May 30, 1995
Westlake Village-based Dole Food Co. last week finished selling the bulk of its worldwide fruit juice business to the Seagram Co., the Canadian beverage company that is acquiring a majority stake in Universal City's MCA entertainment conglomerate.
BUSINESS
January 6, 1995 | PATRICE APODACA, TIMES STAFF WRITER
Dole Food Co., taking a step toward the long-term goal of separating its food and real estate businesses and shedding poorly performing units, said Thursday that it will sell its worldwide juice business to Seagram Co. for $285 million. David H. Murdock, chairman of Westlake Village-based Dole, said the company was "reviewing all aspects of its businesses with the intent of the sale or distribution of certain assets. . . ." He did not elaborate.
NEWS
April 12, 1995 | JON D. MARKMAN, TIMES STAFF WRITER
When Edgar Bronfman Jr. declared on Sunday that buying control of MCA Inc. gave him a seat at "the table," local charities might well have salivated. That's because the city of Los Angeles will not just be getting a new corporate leader when he takes control of the entertainment conglomerate next week. It will also welcome a business presence by one of the leading families in the world's Jewish community--and one of the last of the big-time donors.
BUSINESS
May 19, 1998 | CHUCK PHILIPS AND CLAUDIA ELLER
The much-hyped bidding war over music giant PolyGram won't happen, as potential suitors that included former super-agent Michael Ovitz dropped out Monday. That leaves Seagram Co. clear to announce a deal within days--following a series of board meetings this week by PolyGram and its Dutch parent, Philips Electronics, sources said. Before the estimated $10.5-billion agreement can be consummated, it must be approved by the supervisory and management boards of both PolyGram and Philips.
BUSINESS
March 14, 1999 | E. SCOTT RECKARD, TIMES STAFF WRITER
A weathered lighthouse marks the entry to Florida's newest theme park, but just beyond, a fiercer icon looms: the Hulk Coaster, which blasts riders from 0 to 40 mph in two seconds before turning them upside-down in a zero-gravity loop. Fans of Walt Disney Co.'s comfortable and inviting amusement parks might be taken aback by this collision of Marvel Comics and seaport exotica at the entrance to Islands of Adventure. But Islands is no Disney park.
BUSINESS
September 26, 2000 | From Bloomberg News
Vivendi pledged to accept restrictions on its business to win European Commission approval for its $33.4-billion purchase of Seagram Co., the owner of Universal Music Group, the commission said. "The parties have offered concessions," said Amelia Torres, spokeswoman for Competition Commissioner Mario Monti. The offer automatically pushes back the deadline for the commission to rule on the merger from Monday to Oct. 13.
BUSINESS
August 18, 2000 | From Reuters
Entertainment giant Seagram Co., riding a revenue boost from its music unit and movie box-office hits "Erin Brockovich" and "Gladiator," reported a fiscal fourth-quarter net loss Thursday that was less than Wall Street had expected. The company, which is in the process of merging with French utilities group Vivendi, said its net loss widened to $128 million, or 29 cents per share, from $53 million, or 32 cents, a year ago.
BUSINESS
July 27, 2000 | From Bloomberg News
Vivendi's agreement to acquire Seagram Co. and part of Canal Plus was approved by a French regulator after concessions by Vivendi. But analysts suggested the changes could jeopardize the terms of the $46-billion accord. The French media and utility company agreed to modify the acquisition, giving control of Canal Plus' French pay-TV subscriber base back to Canal Plus Programmes, a unit that will be 49% owned by Vivendi, the regulator said.
BUSINESS
July 14, 2000 | JAMES BATES, TIMES STAFF WRITER
French utility and telecommunications giant Vivendi, which plans to buy Seagram Co. and its Universal Studios subsidiary for $34 billion in stock, scaled back further and rescheduled again an initial public offering in France of its environmental business, citing softer-than-expected demand and poor stock market conditions there. The development isn't expected to threaten the Seagram deal, sources said.
BUSINESS
June 25, 2000 | JAMES FLANIGAN
The glitter of hard cash, not mere show business glamour, is luring Vivendi of France to offer $34 billion for Seagram Corp., the world's largest music company and owner of Universal Studios. Seagram may look anemic in reported profit--its 1999 results show a net loss on $15 billion in revenue. But the loss reflects debt taken on to acquire the music company Polygram. Seagram actually had cash flow of $1.5 billion by the reckoning of professional investors.
BUSINESS
June 23, 2000 | CLAUDIA ELLER and JAMES BATES
Earlier this year, Seagram Chief Executive Edgar Bronfman Jr. sold a home in Malibu, which he had never lived in, for more than $10 million. It was a tidy profit, considering he paid $6.5 million in 1997. Now, five years after acquiring Universal Studios Inc., Bronfman is selling the studio along with the rest of his Seagram empire to France's Vivendi. As with the Malibu home, he's making a nice profit on a place where he has been little more than an absentee landlord.
BUSINESS
March 4, 2000 | By CHUCK PHILIPS,
Setting the stage for an Internet format battle, Seagram's Universal Music Group, the world's largest record company, plans to launch its own digital distribution system within months. The architecture for the system--which is not compatible with formats being developed by Seagram's competitors--grew out of its costly Project Nigel technology, which was developed over the last year with AT&T Corp., BMG Entertainment and Matsushita Electric Industrial Co.
BUSINESS
June 26, 1999
* Seagram Co., in its latest move to sell assets and pay down debt, will sell two prestigious champagne makers to investment firm Hicks, Muse, Tate & Furst for $310 million. The Canadian beverage and media company will continue to distribute the two French brands, Mumm and Perrier-Jouet, and will keep its California sparkling wine operation, Mumm Cuvee Napa.
NEWS
June 21, 2000 | JOHN-THOR DAHLBURG and JAMES BATES, TIMES STAFF WRITERS
As executives on Tuesday formally unveiled plans for one of the biggest media combinations in history, the $34-billion Vivendi acquisition of Seagram Co. was slammed by financial markets as skittish investors drove down the stocks of all companies involved. Many investors on both sides of the Atlantic aren't buying the sales pitch that this combination is a 21st century bet with Seagram Co.'s Universal Studios and Polygram Music on an array of technological, wireless wonders.
BUSINESS
June 20, 2000 | JAMES BATES, TIMES STAFF WRITER
French utility and media giant Vivendi reached a formal agreement late Monday to buy Seagram Co., including Universal Studios Inc. and Universal Music Group, in a $34-billion stock swap hammered out despite the continued nervousness of Vivendi investors. Lingering questions about the exact role Seagram scion Edgar Bronfman Jr.
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