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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: November 10, 1998
THE SEAGRAM COMPANY LTD.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Canada 1-2275 None
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NO.)
1430 Peel Street, Montreal, Quebec, Canada H3A 1S9
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code:
(514) 849-5271
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Item 5. Other Events.
On November 10, 1998, The Seagram Company Ltd. (the "Corporation") entered into
an Acquisition Agreement, among the Corporation, PolyGram N.V. ("PolyGram") and
Orion Pictures Library Acquisition Co., Inc. ("Orion") with respect to its
previously announced agreement in principle to sell certain film library assets
of PolyGram Filmed Entertainment to Orion, an indirect subsidiary of
Metro-Goldwyn-Mayer Inc., following the Corporation's acquisition of PolyGram.
The purchase price for the transaction is approximately $250 million, with $235
million to be paid in cash at the closing of such transaction and the remaining
estimated $15 million to be paid from operating cash flow from the assets prior
to the expected closing of the transaction on December 31, 1998. The transaction
is subject to the consummation of the Corporation's previously announced offer
for all issued shares of PolyGram, the receipt of regulatory approvals and other
customary closing conditions.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE SEAGRAM COMPANY LTD.
(Registrant)
Date: November 13, 1998
By: /s/ Daniel R. Paladino
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Daniel R. Paladino
Executive Vice President, Legal
and Environmental Affairs
