Seagram Un Scotches A Deal

IS SEAGRAM FINALLY GOING TO BUY EMI? The British music giant's shares are up about 10% on rumors that a deal is coming, and Hollywood sources say talks between the two companies have picked up. EMI's price may have held back Seagram CEO Edgar Bronfman Jr. But low 1997 earnings pulled down EMI's share price by a third. EMI acknowledges that its chairman, Sir Colin Southgate, was in Los Angeles, headquarters of Seagram's Universal Studios, on Apr. 22--but for talks with EMI's U.S. executives.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.