Universal To Move To France-based Vivendi
Seagram Co.-owned Universal Studios, producer of the LAND BEFORE TIME series, will now be housed under the Canal Plus roof. The move is a result of French media mogul Vivendis recently board-approved acquisition of Seagram. The stock for stock deal values Seagram at US$34 billion. Vivendi shareholders will own 60% of the new firm, Seagram shareholders will hold 29% and the minority shareholders in Vivendi-owned Canal Plus will hold the remaining 11%. The new motion picture division of Vivendi will be entitled Canal Plus and will be lead by Canal Plus chairman and CEO Pierre Lescure.