CANADA: Canadian Heritage and Industry Canada Approve Proposed Business Combination of Vivendi, Seagram and Canal+
Vivendi (NYSE:V) and The Seagram Company Ltd. (NYSE:VO) announced today that they have obtained approval relating to the proposed strategic business combination among Vivendi, Seagram and Canal+ from the Minister of Canadian Heritage and the Minister of Industry Canada, as required under the Investment Canada Act. The parties have also received antitrust clearances for the transaction from the European Commission, appropriate U.S. antitrust authorities and the Canadian Competition Bureau. In addition, the French audiovisual authority (CSA) has indicated that it would not oppose the transaction. The Seagram Company Ltd., headquartered in Montreal, operates in four global business segments: Music, Filmed Entertainment, Recreation and Other, and Spirits and Wine. Universal Music Group, the world's largest recorded music company, produces, markets and distributes recorded music throughout the world in all major genres, and it is engaged in music publishing. The Company's Filmed Entertainment business produces and distributes motion picture, television and home video products worldwide; operates and has ownership in a number of international cable channels; and engages in the licensing of merchandising rights and film property rights. The Recreation and Other business operates theme parks and retail stores. It is also involved in the development of entertainment software. The Spirits and Wine business is engaged principally in the production and marketing of distilled spirits, wines, coolers, beers and mixers throughout more than 190 countries and territories. The Company's corporate website is located at
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