Word: mca
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Dates: during 1990-1999
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...lyrics, Edgar Bronfman Jr., is coming closer to possessing something he has desired for most of his 39 years: a Hollywood studio. Last week Bronfman, the president and chief executive officer of Seagram Co., was deep in negotiations with Japan's Matsushita Electric Industrial to take control of MCA, which owns record labels, theme parks, TV shows, a pleasant parcel of Southern California real estate-and Universal Studios. Seagram, the Canadian purveyor of whiskey, wine and Tropicana juices, was reportedly offering about $5.6 billion for 80% of the entertainment conglomerate...
Already Bronfman has earned the title of mischiefmaker. His sorties are tilting the fortunes of several prominent companies-not just Matsushita, MCA and his own but also Du Pont, Time Warner and infant multimedia outfit DreamWorks SKG. Last week, for $8.8 billion, the chemical giant bought back most of Seagram's 24.1% of Du Pont stock. Time Warner, of which Seagram owns a provocative 14.9%, braced for a messy stock scramble should Bronfman sell his shares. DreamWorks also looked to the shy, dapper mogul for indications that he would retain MCA's current, embattled management and thus be in line...
Seagramreportedly is on the verge of paying about $6 billion to Matsushita for 80 percent of MCA, the Hollywood studio that produced "Jurassic Park" and "E.T." The Associated Press reports that a final deal is expected to be signed within days. But TIME business reporter Bernard Baumohl notes that MCA and Seagram still do not have any formal relationship and that Seagram is declining to comment on the reported sale. Seagram, the Canadian liquor, wine and juice company controlled by one of the world's richest families (the Bronfmans), is said to be financing a purchase of MCA with...
Seagramreportedly wants to sell its 25 percent stake in Du Pont in order to raise money to purchase entertainment giant MCA, according to articles published in The New York Times, The Wall Street Journal and the New York Post today. The Times reports that Seagram could get up to $10 billion for its shares of Du Pont. Those shares were purchased by Seagram for just $3.28 billion in 1981. Seagram, which makes liquor, wine and juice products, reportedly has been talking about a $10 billion deal to buy MCA from the Matsushita Electrical Industrial Co. The Times reported that...
...rainbow, to Seattle and Silicon Valley, Wall Street and Europe, and have found several pots of gold. They are securing a $1 billion line of credit from Chemical Bank. More stash will come through advances in such fields as pay TV (HBO), music distribution (MCA could win there), worldwide pay- and free-TV rights. The team is negotiating with the California Public Employee Retirement System (CalPERS) to invest almost $300 million; that deal, which both sides had hoped to present to the CalPERS board last week, is delayed but not dormant...