FACING THE MUSIC; POLYGRAM'S FILM DIVISION MAY GET SOLD.Byline: Dave McNary Daily News Staff Writer So when's the next deal? Universal Studios owner Seagram Co., which already has made three major deals since last fall, is itching itching or pruritus Stimulation of nerve endings in the skin, usually incited by histamine, that evokes a desire to scratch. It is often transient and easily relieved. Pathological itching with skin changes usually signals dermatologic disease. to pull the trigger again. It wants to sell PolyGram NV's fledgling film division for $1 billion - even though it hasn't even bought PolyGram yet. Proceeds will help pay for Seagram's blockbuster $10.6 billion buyout Buyout The purchase of a company or a controlling interest of a corporation's shares. Notes: A leveraged buyout is accomplished with borrowed money or by issuing more stock. of PolyGram, announced Thursday but not expected to close until summer's end. Analysts said Friday that a quartet of European players - Canal Plus SA, Pathe SA, Kirch Group and Bertelsmann AG Bertelsmann AG German media company. Beginning as a religious printer and publisher in 1835, the company grew steadily over the next century. Though virtually destroyed by Allied bombing in 1945, it recovered quickly after World War II. - would be the most likely bidders for PolyGram Filmed Entertainment. Canal Plus executives have said they want to keep PFE 1. (text, editor) PFE - Programmer's File Editor. 2. (language) PFE - Portable Forth Environment. out of American hands and German music-publishing giant Bertelsmann long has been considered a likely buyer of film assets. Other possibilities include PolyGram President and Chief Executive Officer Alain Levy, who has spent $1 billion to set up the film business, and several American studios, who may want to buy PFE's library. ``There are any number of potential buyers, but it's very difficult to tell who would be willing to meet the asking price at this point,'' said David Leibowitz, managing director at Burnham Securities. Seagram's other recent deals include its $1.7 billion purchase of USA Networks in September and its $4.5 billion swap of TV assets to Barry Diller Barry Diller (born February 2, 1942 in San Francisco, California) is an American media executive responsible for the creation of Fox Broadcasting Company. Biography in November. PFE has been trying to muscle into Hollywood in recent years by setting up two production companies in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , Interscope and Propaganda, and another in London, Working Title, along with distribution operations in 15 countries and distribution deals with Jodie Foster Alicia Christian Foster (born November 19 1962), better known as Jodie Foster, is a two-time Academy Award-winning American actress, director, and producer. She has also won two Golden Globes, 3 BAFTA awards and a Screen Actors Guild Award, making her one of the few select , Alan Parker, Castle Rock Entertainment and a Tom Pollock-Ivan Reitman venture. PFE's record so far has been mixed, with its biggest successes on low-cost comedies - 1994's ``Four Weddings and a Funeral'' and 1997's ``Bean'' - which each grossed more than $200 million worldwide. Its biggest project, ``The Game,'' posted moderate returns and ``The Gingerbread gingerbread In architecture and design, elaborately detailed embellishment, either lavish or superfluous. Though the term is occasionally applied to such highly detailed and decorative styles as the Rococo, it usually refers to the hand-carved and -sawn wood ornamentation of Man'' was a bomb. PFE's upcoming slate includes ``Very Bad Things,'' a dark comedy starring Cameron Diaz due out in July; ``What Dreams May Come,'' an $80 million Robin Williams project that was delayed from summer to fall; and ``Notting Hills,'' a Julia Roberts comedy set for a Christmas release. PFE also owns 1,500 films, two-thirds of those arriving last month when it outbid out·bid tr.v. out·bid, out·bid·den or out·bid, out·bid·ding, out·bids To bid higher than: We outbid our rivals at the auction. several other studios for the Epic library for $225 million. Still, the PFE library is relatively small compared to those at major studios. Some analysts believe PFE lacks the scale to compete effectively against major Hollywood studios, noting it posted a $55 million loss last year. ``PolyGram's film business has clearly been a cash drain on the company,'' said Steve Cesinger, an analyst with Greif & Co. who estimated PolyGram has spent over $1 billion on PFE. Leibowitz also said there's a possibility that Seagram chief Edgar Bronfman Two persons are named Edgar Bronfman (father and son). They are the son and grandson of Seagram founder Samuel Bronfman:
POLYGRAM'S MIXED PERFORMANCE Seagram is considering the sale of the moderately successful filmmaking film·mak·ing n. The making of movies. arm of Dutch entertainment giant PolyGram. Prominent titles it has released include: Film release Domestic gross (in millions) ``Four Weddings and a Funeral'' 1994 $52.6 ``Jumanji'' 1995 $100.4x ``The Usual Suspects'' 1995 $23.3 ``Dead Man Walking'' 1995 $39.3 ``Mr. Holland's Opus'' 1995 $82.45x ``Fargo'' 1996 $24.5 ``How to Be a Player'' 1997 $14 ``The Game'' 1997$48.3 ``Bean'' 1997 $45.1 ``The Big Lebowski'' 1998 $17.4 ``The Borrowers'' 1998 $22.3 ``Barney's Great Adventure'' 1998 $10.3 x - Funded by PolyGram but released by other studios CAPTION(S): 2 Photos, Chart Photo: (1--Color) ``Four Weddings and a Funeral'' is one of the hit films in PolyGram Filmed Entertainment's library. (2--Color) PolyGram's buyer Seagram is already weighing a sell-off of ``Bean'' and other titles. Chart: POLYGRAM'S MIXED PERFORMANCE (See Text) |
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