Diller's French resistance.(Brief Article)(Statistical Data Included)

Broadcasting & Cable, June, 2000 by McClellan, Steve

USA chairman sees new modus Vivendi and wants to buy out Seagram's share Hoping to exploit the sale of Seagram & Co., USA Networks Chairman Barry Diller is angling for a way to secure greater control by taking out Seagram's $7 billion stake in his company. Industry executives familiar with the deal said that after bristling under restrictions placed by Seagram, which owns 43% of USA, Diller is looking for a way to buy the stake out from the liquor and media company's soon-to-be owner, France-based Vivendi.

Unlike Diller's other large shareholders, Seagram has veto power over deals exceeding 10% of USA's market capitalization, limiting Diller to deals worth about $1.6 billion. After a bold move to exchange Seagram's cable networks and TV...

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