Word: bronfmans
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However, at least for now, he has taken much more concrete steps toward pursuing writing than taking over the world. He has applied to become a speechwriter for the director of Hillel International, a position that would also involve a mixture of speechwriting and logistical work for Edgar Bronfman, who heads the World Jewish Congress and owns both Seagrams and Tropicana...
...recipient of a Bronfman fellowship in high school, Sugarman developed connections with the community fellows and he found out about the opening when he got a call from Washington asking if he would be interested in applying...
Then, last October, Bronfman announced that he was essentially selling Universal's television and cable operations to his friend and mentor, Barry Diller. Since those were supposed to be Biondi's strengths, the move was widely regarded as emasculating Biondi. Bronfman has pointed out that Seagram's 45% stake in Diller's firm has soared more than $1 billion in value. Biondi soldiers on, noting that Universal's profits are on a par with the industry. He adds, "And we expect continued strong growth in profitability--on the order of 20% a year--for the next two years...
...Bronfman says the company (and presumably his image) has turned the corner. The music division, led by bands such as No Doubt and the Wallflowers, is performing well, and Universal is exploring the purchase of EMI, the British music label. His investment in another media company, Time Warner (TIME's parent company), has paid off. In February, Bronfman sold 15 million Time Warner shares for $64.38 each, or about $965 million, nearly double what he paid for them. Universal expects to open new theme parks in Florida and Japan in the next few years. When it comes to movies, however...
Some industry veterans figure Bronfman isn't done reshuffling yet. Speculation lingers about a sale to DreamWorks, though DreamWorks partner David Geffen says, "That's a made-up story." Some expect Diller, still assembling his new USA Networks Inc., to play a larger role, but Diller denies that, saying "I have enough to do." He says he doesn't even discuss Universal's business with Bronfman. As for the harsh reviews that Bronfman's recent performance has received, Diller dismisses them. "Hollywood turns on everybody and then turns back," he says. "Such is the nature of the process." In other...