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Vivendi is said to have thought Bronfman’s asking price for his film and music assets was inflated, and to have had concerns about managing two U.S.-based businesses.
Monday, May 1, 2000

VIVENDI TAKES A WALK FROM SEAGRAM TALKS

French Media Company Kicks Tires, But Decides To Pass
Maybe Seagram boss edgar bronfman',390,400);">edgar bronfman',390,400);">Edgar Bronfman Jr. should put his company up on eBay.

The chief exec has seemingly run out of buyers after French media conglom Vivendi, which controls pay-TV group Canal Plus, walked away from acquiring the Canadian company's media interests, including Universal Studios and Universal Music.

Vivendi was one of several companies interested in Seagram, along with News Corp. and Bertelsmann. Bronfman reportedly had discussions with both rupert murdoch',390,400);">rupert murdoch',390,400);">Rupert Murdoch and Thomas Middlehoff about a sale, thoughthe talks were said to have reached an impasse. USA Today reported that Bronfman's asking price was $60 billion; Seagram is currently valued at $22 billion.

Vivendi is said to have thought Bronfman's asking price for his film and music assets was inflated, and to have had concerns about managing two U.S.-based businesses. Bronfman also expressed his intention to maintain a leading role in the music business, and this has proved a stumbling block in his negotiations with other interested parties.

In other news, Vivendi officials decided to take off early for a weekend Jerry Lewis film festival in Nice.

 
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