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
Graffiti
Crossword
Drumbeat: Ad Buzzaar
|
| |
Saturday, May 23, 1998
Seagram to buy Polygram India
ENS ECONOMIC BUREAU
MUMBAI, May 22: The Seagram takeover of PolyGram worldwide will lead to a change in ownership of the 51 per cent stake held by PolyGram NV in Polygram India. Seagram, which till date concentrated only on the food business in India, will hold a majority stake in India's second oldest music company, Polygram India, in which the remaining 49 per cent is held by the Patels of Film Center.Seagram Co Ltd on Thursday agreed to buy PolyGram NV for $ 10.6 billion in a deal that makes the Canadian drinks and entertainment company number one in the world music industry with accounts like U2 and Elton John. In India, Polygram follows HMV in the music industry pecking order, and is believed to have recorded a turnover of Rs 50 crore last year. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
Top
|
|
|
|
|
