CANADA: Canadian Competition Bureau clears proposed business combination of Vivendi, Seagram and Canal+

The Seagram Company Ltd. (NYSE:VO) confirmed today that the Canadian Competition Bureau yesterday concluded its review of the proposed strategic business combination of Vivendi, Seagram and Canal+, and it advised that it will not challenge the completion of the transaction. Accordingly, the parties have satisfied their obligations with respect to the transaction pursuant to the Competition Act (Canada).Regulatory approvals in Canada remain pending before Industry Canada and the Department of Canadian Heritage. Those reviews are anticipated to be completed in due course.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