Word: polygram
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...scored wins by pushing premium brands like Chivas Regal and Absolut, and buying and selling Tropicana for a juicy profit. But Hollywood continued to beckon. He dumped the company's safe, lucrative stake in chemical giant DuPont to buy Universal Studios' parent MCA in 1995 and recording company PolyGram...
Representatives of 25 Japanese companies, including Panasonic and JVC, as well as record executives from BMG, Polygram and Warner, trekked to the warehouse to see Kok's prototype. Not only was Kok not wearing the space suit used in clean rooms, but he also demonstrated that his machine could produce high-quality discs even as he stood beside it and puffed away on his ever present Havana cigar...
...published writer of cheesy love songs, Bronfman made a big bet on the music business in 1998, shelling out $10.4 billion to buy Polygram. Unfortunately, with digital piracy starting to take a chunk out of CD sales, his timing isn't looking great. "I wouldn't leave him with a kindergarten class. I think he has shown a lack of ability to manage anything," says Michael Palmer, president of Toronto-based Veritas Investment Research...
When Alain levy was executive vice president at PolyGram records in 1989, a representative for Island Records came to see him with an offer to sell the independent label for $300 million. Levy knew that Island?s roster of popular acts, including U2 and Bob Marley, could boost PolyGram?s efforts to build market share quickly. But there was a caveat: if Levy wanted the deal, it had to be inked before the agent left the premises. Business executives negotiate for weeks, even months, before spending that kind of money. Not Levy. By 1 a.m., the deal was sealed...
Levy is used to turning music companies around. He and his new vice chairman at EMI, David Munns, were pivotal in pushing PolyGram (now part of Universal) from third place to the world?s largest music company between 1989 and ?98. But the rhythms of the music business have changed since then. EMI?s troubles are a microcosm of what?s ailing a $40 billion industry that can no longer rely on fans buying CDs by the armful to replace outmoded record collections. Too many expensive-to-maintain artists are selling too few CDs to an increasingly fragmented public...