Seagram and Vivendi in takeover talks

14 June 2000

The French group Vivendi and its television arm, Canal Plus, are reported to be in talks about a takeover of the Canadian firm’s entertainment and drinks business. A deal would substantially boost Vivendi’s media assets, with the acquisition of Seagram’s Universal film studios and music group. Vivendi currently has interests in European film-making, online media and pay television, as well as in communications and utilities.

The takeover is worth an estimated $30 billion, which would make it one of the largest transatlantic acquisitions.

This is not the first time a Vivendi/Seagram deal has been mooted: previous talks between the two groups foundered over issues of price and management. A sale would end Seagram’s lengthy hunt for a suitor. The company has held discussions with a number of new media groups including Rupert Murdoch’s News Corp.

News source: Financial Times