Word: bronfmans
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...billion purchase of Canada's Seagram by France's Vivendi represents the latest human attempt to make some of these pieces click into a seamless, revenue-generating new-economy Tinkertoy. The toy boys in this deal, Vivendi CEO Jean-Marie Messier, 43, and Seagram CEO Edgar Bronfman Jr., 45, can't resist the urge to merge Vivendi's telephone company, Internet provider and cable system with Seagram's Universal Studios and Universal Music Group...
Combining Vivendi (1999 revenues: $41.8 billion) and Seagram ($12.3 billion) would bring a fat payoff for Edgar Bronfman Jr. and the entire Bronfman family, which owns nearly 25% of Seagram. Bronfman has had to endure endless Hollywood brickbats since his father tapped him for the top job in 1994. Outsiders ridiculed the Bronfman scion, who writes pop songs under the pseudonym Junior Miles, as a star-struck dilettante when he jettisoned Seagram's lucrative 24.2% stake in DuPont and used the proceeds to buy Universal. It didn't help that DuPont stock promptly doubled, as Seagram's own shares sparkled...
Sensing an opportunity, Messier approached Bronfman last October. Seagram possessed the kind of content-producing assets that Messier's distribution channels thirsted for. Talks between the two men heated up in January following word of the AOL-Time Warner deal. But the discussions nearly collapsed last spring, before both companies settled on a stock swap that would value Seagram at about $75 a share--a roughly $25 premium above its recent price...
Loeb's progeny have proved as impressive a legacy as his philanthropy. One son went on to become ambassador to Denmark while grandson Edgar Bronfman Jr., billionaire head of Seagram Co., co-wrote Celine Dion's "To Love You More," which cracked the U.S. top 10 charts...
...Scouting Report] Edgar Bronfman, Jr. is betting the farm on music. After paying $10 billion for Polygram, he has the world's largest record company, sizable debt and a bleeding balance sheet. A growing theme-park unit will help carry the load...