India Business Forum

Search Button

The Indian Express

The Financial Express

Latest News

World News

Union Budget

EIW

Market Indicators

Screen

Celebrity Chat

Express Computers

Advertisers Forum

Career India

Business Forum

Match Maker

Express Properties

Travel & Tourism

Information Technology

Astrosurf

Eco-India

Dr Know

Screen: The Business of Entertainment

Graffiti

Crossword

Drumbeat: Ad Buzzaar


Corporate

Economy

Expressions

Markets

Leisure

 

Saturday, May 23, 1998

Buyout will give Seagram 51% stake in Polygram India 

Our Corporate Bureau  
MUMBAI, May 22: Seagram will now hold 51 per cent stake in Polygram India, Patels of Film Center hold the balance, following the takeover of Polygram worldwide. Seagram, which had till date concentrated only on its liquor business in India, will hold a majority stake in the country's second oldest music company. Polygram India follows HMV in the music industry pecking order, and is believed to have recorded a Rs 50-crore turnover last year.The company has some high-selling old music labels to its credit, including the evergreen Sholay, its biggest hit till date.

The takeover of Polygram comes after a highly successful period in Polygram India's recent history, when it grabbed top awards for its runaway Indi-pop hit Janam Samjha Karo, and a serious debut in film production with Khamoshi. It currently has two films under production.

The company also recently bought out a music label Velvet Voice by Pankaj Udhas. Seagram has so far had a major role in sponsorship of entertainmentprogrammes at various urban centres to sell its upmarket whiskey brands.

In India, Seagram has launched eight products in the market. These include, three scotch whiskies -- Something Special Aged 12 years, Passport and 100 Pipers, a range of superior blended whiskies --Blenders Pride, Oaken Glow, Royal Stag and Imperial Blue and Seagram's Extra Dry Gin. Seagram is among the few companies here to use only grain spirits and not molasses in the production of blended whiskies. It also has plans to launch its fruit drink -- Tropicana -- in the country.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


Top


EcoIndia

Global Tenders invited by MSTC

The National Stock Exchange of India (NSE)

 

Interested in Hi-tech ventures with Israel? Click here