Word: seagrams
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Dates: during 1990-1999
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What does Bronfman of Seagram's want from Time Warner...
There are compromises possible too. One being talked up among security analysts: Seagram would buy up to 25% of Time Warner stock, but Bronfman would guarantee to freeze its holdings there for a long time and not try to unseat the present management. Levin in return would leave the poison pill in the corporate medicine cabinet and let Seagram place one or two members on Time Warner's 15-person board, giving Bronfman a strong voice but not control. At minimum, Levin will need to have at least some preliminary answers next Thursday for stockholders attending the annual meeting...
...stop calling me a goddam bootlegger?" Seeking respectability and reacting against the strong anti-Semitism of the Canadian elite, he plunged into Jewish affairs, raising huge sums in the 1930s and '40s to help the Zionist founders of what became Israel. His son Edgar Sr., who became head of Seagram's U.S. operations in 1957 and of the whole company on Mr. Sam's death in 1971, has continued that tradition. Though he is still chairman of Seagram, Edgar Sr. devotes most of his time to the World Jewish Congress, which he has headed since 1980. Among other things...
...Seagram, Edgar Sr. accommodated changing consumer tastes in part by lightening blends of a leading whiskey brand, introducing bottled cocktails and importing wines and liqueurs. He also diversified into office buildings, shopping malls and other businesses. In 1981 Seagram bid for control of Conoco, a giant oil and gas producer. It lost to Du Pont Co. but came out owning 24.3% of Du Pont stock, today worth around $9 billion. Seagram's management of that investment just might indicate what role it could play in Time Warner. The company has made no effort to take over Du Pont...
...young producer told an interviewer for Women's Wear Daily that "right now I have no interest in getting into the Seagram business." Four years later, though, he did just that. In 1986, Edgar Sr. proclaimed Efer his heir as head of the company. He was chosen over his older brother Samuel, who in 1975 was the center of a sensational kidnapping case; one of the two captors claimed Samuel had arranged the abduction himself to extort ransom money from his father. The family believed Samuel's angry denials...