Filed by Vivendi
Pursuant to Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: The Seagram Company Ltd.
Commission File No. 1-2275
and
Subject Company: Canal Plus S.A.
Commission File No. 82-2270
October 12, 2000
[UNIVERSAL LOGO] BLAIR WESTLAKE, CHAIRMAN
UNIVERSAL TELEVISION &
NETWORKS
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[UNIVERSAL LOGO]
IMPORTANT LEGAL DISCLAIMER
- These documents contain forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements are based on management's current expectations or
beliefs and are subject to a number of factors and uncertainties that could
cause actual results to differ materially from those described in the
forward-looking statements. The forward-looking statements contained in these
documents address the following subjects: expected date of closing the
merger; future financial and operating results; and timing and benefits of
the merger. The following factors, among others, could cause actual results
to differ materially from those described in the forward-looking statements:
the risk that the Vivendi, Canal+'s and Seagram's businesses will not be
integrated successfully; costs related to the merger; failure of the Vivendi,
Canal+ or Seagram's stockholders to approve the merger; inability to further
identify, develop and achieve success for new products, services and
technologies; increased competition and its effect on pricing, spending,
third-party relationships and revenues; inability to establish and maintain
relationships with commerce, advertising, marketing, technology, and content
providers. Investors and security holders are urged to read the joint proxy
statement/prospectus regarding the business combination transaction
referenced in the foregoing information, when it becomes available, because
it will contain important information. The joint proxy statement/prospectus
will be filed with the Securities and Exchange Commission by Vivendi, Canal+
and Seagram. Investors and security holders may obtain a free copy of the
joint proxy statement/prospectus (when it is available) and other documents
filed by Vivendi, Canal+ and Seagram with the Commission at the Commission's
web site at www.sec.gov. The joint proxy statement/prospectus and these other
documents may also be obtained for free from Vivendi, Canal+ and Seagram.
Information regarding the participants in the proxy solicitation and a
description of their direct and indirect interests, by security holdings or
otherwise, is contained in the joint press release relating to the
transaction filed with the Commission by each of Vivendi and Seagram, on June
20, 2000.
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[UNIVERSAL LOGO]
UNIVERSAL TELEVISION & NETWORKS
- Universal Television Operates In Three Segments Of The Value Chain...
[FLOW CHART]
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<S> <C> <C> <C>
PRODUCTION PROGRAM CHANNELS DISTRIBUTION
DISTRIBUTION PLATFORMS
JUST SHOOT ME CURRENT MOVIES 25 MLN MANAGED CABLE
STEVE HARVEY 4,000 MOVIE TITLES CHANNEL SUBS DTH
BLIND DATE 24,000 TV EPISODES 23 MLN JOINT DTT
INT'L TALK SHOWS USA NETWORKS' VENTURE ADSL
WORKING TITLE TV PROGRAMS (INT'L) CHANNEL SUBS ETC.
>650 HOURS
ANNUALLY
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</TABLE>
[VIVENDI UNIVERSAL LOGO]
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[UNIVERSAL LOGO] UNIVERSAL'S MOVIE LIBRARY
- MOVIES
[X] 4,000 + feature length movies
- Titles known worldwide
<TABLE>
<S> <C> <C> <C>
[JURASSIC PARK PHOTO] [SHAKESPEARE IN LOVE PHOTO]
[APOLLO 13 PHOTO] [LIAR, LIAR PHOTO]
</TABLE>
[VIVENDI UNIVERSAL LOGO]
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[UNIVERSAL LOGO] UNIVERSAL'S MOVIE LIBRARY
<TABLE>
<S> <C>
-------------------------------- ------------------------------
- WORLD'S 2ND LARGEST
- CONTINUING ANNUITY MOVIE LIBRARY
FROM WORLDWIDE
LICENSING - WORLDWIDE ALL-MEDIA
RIGHTS TO MOST TITLES
- HIGH EBITDA MARGIN
FROM OLDER TITLES OF > 60%
-------------------------------- - RECOGNIZED LEADER IN
HORROR GENRE
[UNIVERSAL MOVIE LIBRARY GRAPHIC]
- HITCHCOCK DIRECTED
-------------------------------- FILMS (PSYCHO, THE
BIRDS...)
- FOUNDATION FOR
CHANNEL CREATION - FRANKENSTEIN,
DRACULA, WOLFMAN...
[X] 100% genre-appropriate
for Studio Universal
[X] ~30% genre-appropriate
for 13th Street
-------------------------------- ------------------------------
</TABLE>
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[UNIVERSAL LOGO]
UNIVERSAL'S MOVIE LIBRARY
- TELEVISION
[X] 24,000 + television episodes
[MAGNUM, P.I. PHOTO] [MURDER, SHE WROTE PHOTO]
[COLUMBO PHOTO]
[VIVENDI UNIVERSAL LOGO]
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[UNIVERSAL LOGO]
UNIVERSAL'S MOVIE LIBRARY
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<S> <C> <C>
-------------------------------- -------------------------------------
- FOUNDATION FOR CHANNEL
- WORLD'S LARGEST LIBRARY CREATION
OF ONE-HOURS AND LONG
FORM TV PROGRAMS [X] 13th Street is only action &
suspense channel designed
- WORLD'S LARGEST LIBRARY to take best advantage of a
OF ACTION, MYSTERY AND Hollywood studio library
SUSPENSE GENRES
[X] > 50% of Universal's TV
library is genre-appropriate
for 13th Street
-------------------------------- -------------------------------------
[UNIVERSAL TV LIBRARY PHOTO]
-------------------------------- -------------------------------------
- CONTINUING ANNUITY
FROM WORLDWIDE - USA NETWORKS
LICENSING PROGRAMMING PROVIDES
CURRENT AND ADDITIONAL
LIBRARY TV PRODUCT
- HIGH EBITDA MARGIN (EG: LAW AND ORDER,
FOR OLDER TITLES XENA: PRINCESS WARRIOR)
OF > 80%
-------------------------------- -------------------------------------
</TABLE>
[VIVENDI UNIVERSAL LOGO]
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[UNIVERSAL LOGO] A GLOBAL TV LICENSING FOOTPRINT
- Geographic breakdown of FY 2000 TV revenues
United States Europe
43% 43%
[PHOTO] [PHOTO]
Rest of the
World
14%
[VIVENDI UNIVERSAL LOGO]
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[UNIVERSAL LOGO] OWN CONTENT GENERATES MULTIPLE
REVENUES STREAMS
- NEW MOVIES ------------------> - DRIVER FOR LIBRARY, CHANNEL
DEVELOPMENT & INTERACTIVE SERVICES
- PPV AND VOD ------------------> - DRIVER FOR CHANNEL DEVELOPMENTAL &
RIGHTS OF NEW LIBRARY
MOVIES
- ANNUITY GENERATING ANNUAL REVENUES
- DRIVER FOR CHANNEL DEVELOPMENT &
INTERACTIVE SERVICES
- TV & MOVIE ------------------> - 13TH STREET
LIBRARIES
- SCI FI
- STUDIO UNIVERSAL
/THE STUDIO
- C+ CHANNELS
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[UNIVERSAL LOGO] STRONG INTERNATIONAL BRANDS
- PROGRAMMING LINE-UP CONSISTS OF ~ 35% FROM UNIVERSAL LIBRARIES
- LOCAL PROGRAMMING PROVIDING THE MAJORITY OF THE BALANCE
- "The Most Dangerous Address on Television"
[13TH STREET PHOTO]
- Basic Tier Action & Suspense Channel
- "The Movie Channel From the Movie Makers"
[STUDIO UNIVERSAL PHOTO]
- Basic Tier Contemporary Movie Channel
- Science Fiction Programming
[SCI-FI PHOTO]
- Most Widely Distributed Brand (22M HH)
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[UNIVERSAL LOGO] AN AGGRESSIVE ROLL-OUT:
7 CHANNELS IN 3 YEARS
[USA NETWORK PHOTO]
LAT AM/BRAZIL *
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<S> <C> <C> <C> <C>
[13EME RUE PHOTO] [SCI-FI PHOTO] [STUDIO UNIVERSAL PHOTO] [13TH STREET PHOTO] [CALLE 13 PHOTO] [STUDIO UNIVERSAL PHOTO]
FRANCE UK ITALY GERMANY SPAIN GERMANY
NOVEMBER FEBRUARY MAY AUGUST SEPTEMBER
1997 1998 1998 1998 1999
==============================================================================================================================
1ST CHANNEL ASSUMED 1ST CHANNEL 1ST CHANNEL IN 1ST CHANNEL IN SPAIN
IN TERRITORY CONTROL FROM IN TERRITORY TERRITORY 2ND CHANNEL IN GERMANY
USA
<C> <C>
[STUDIO UNIVERSAL PHOTO] [STUDIO PHOTO]
SPAIN UK*
MAY JANUARY
2000 2001
========================================
2ND 2ND
CHANNEL IN CHANNEL IN
TERRITORY TERRITORY
</TABLE>
* USA BRAZIL AND UK "STUDIO" ARE 50% OWNED BY UNIVERSAL
[VIVENDI UNIVERSAL LOGO]
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[UNIVERSAL LOGO] UNIVERSAL NETWORKS STRATEGY
--------------------------------------------------------------------------------
- USE PLATFORM LAUNCHES IN NEW TERRITORIES TO
STRATEGIC GENERATE ADDITIONAL REVENUES BEYOND PROGRAM
POSITIONING LICENSING
- MAXIMIZE CARRIAGE THROUGH BASIC TIER PENETRATION
--------------------------------------------------------------------------------
BUILD NEW GLOBAL - FORTIFY LICENSING BUSINESS
ASSETS - ESTABLISH CONSUMER BRANDS VIA COMPELLING
THEMATIC APPROACH
--------------------------------------------------------------------------------
FOCUS ON - LOCAL EXECUTION
MARKETING - AGGRESSIVE PROMOTION: NEW SUBSCRIBERS VS.
RATINGS ONLY
--------------------------------------------------------------------------------
COST EFFICIENCIES - REALIZE ECONOMIES OF SCALE THROUGH MULTI-
CHANNEL OPERATIONS
--------------------------------------------------------------------------------
CREATION OF LOCAL - CHANNELS PROVIDE A "LABORATORY" FOR LOW-COST
PROGRAMMING PRODUCTION
--------------------------------------------------------------------------------
[VIVENDI UNIVERSAL LOGO]
<PAGE>
[UNIVERSAL LOGO] FINANCIAL TRENDS:
STRONG OPERATING LEVERAGE
- EXISTING CHANNELS EXPECTED TO BREAK-EVEN IN 2002
- 6 OF THE 9 EXISTING CHANNELS WILL BREAKEVEN IN 2001
<TABLE>
<CAPTION>
-------------------------------
2000 E 2002 E
-------------------------------
<S> <C> <C>
SUBSCRIBERS 25 Mln 32 Mln
REVENUES $ 100 Mln $ 160 Mln
EBITDA $ (20) Mln Breakeven
-------------------------------
</TABLE>
[VIVENDI UNIVERSAL LOGO]
<PAGE>
VIVENDI UNIVERSAL OPPORTUNITIES
- Optimization across the entire TV value chain
--------------------------------------------------------------------------------
PROGRAM DISTRIBUTION
PRODUCTION DISTRIBUTION CHANNELS PLATFORMS
UNIVERSAL UNIVERSAL UNIVERSAL CANAL +
CANAL + CANAL + CANAL +
-------------------------------------------------------------------------------
[VIVENDI UNIVERSAL LOGO]
<PAGE>
BENEFITS FROM INTEGRATION
INTO VIVENDI UNIVERSAL
- CROSS-FERTILIZE UNIVERSAL PROGRAMMING AND VIVENDI UNIVERSAL'S DISTRIBUTION
PLATFORMS
[X] eg: Universal networks on Canal+ platforms, Multithematiques channels
in some Universal territories, enhanced subscribers retention on Canal+
platforms
- POWERFUL COMBINATION OF COMPLEMENTARY LIBRARIES DRIVING IMPROVED DISTRIBUTION
VIA CHANNELS AND LICENSING
[X] eg: Universal titles to drive Canal+ library in non Canal+ territories
- CROSS-PROMOTION OPPORTUNITIES
[X] eg: Vivendi Universal's products on Universal Networks
[VIVENDI UNIVERSAL LOGO]
<PAGE>
BENEFITS FROM INTEGRATION
INTO VIVENDI UNIVERSAL
- COMBINE FORCES WITH MULTITHEMATIQUES TO CREATE AND DEVELOP NEW BRANDED
CHANNELS
- ENHANCED OPPORTUNITIES TO SECURE DELIVERY OF CHANNELS AND PRODUCT LICENSING
WITH OTHER VERTICALLY-INTEGRATED MEDIA COMPANIES
- PROGRAMMING, MARKETING, BROADCASTING AND OVERHEAD COST REDUCTIONS
[VIVENDI UNIVERSAL LOGO]
<PAGE>
BENEFITS FROM INTEGRATION
INTO VIVENDI UNIVERSAL
- Vivendi Universal Is Well-positioned For Video and Demand
-------------------------- ------------------------
- WORLD'S LARGEST - NEW MARKETS
COMBINED US /
EUROPEAN LIBRARY - DEEPER PENETRATION
OF LIBRARIES
- INTERACTIVE PLATFORMS
- HIGHER REVENUES
- DIRECT ACCESS TO
CONSUMERS - INCREASED MARGINS
-------------------------- ------------------------
[VIVENDI UNIVERSAL LOGO]
<PAGE>
SUMMARY
<TABLE>
<S> <C> <C>
-----------------------------------
- STRONG BRANDS
[13TH STREET LOGO] --------------------------
[SCI-FI LOGO] [STUDIO UNIVERSAL LOGO] GLOBAL FOOTPRINT
----------------
-----------------------------------
[UNIVERSAL TELEVISION AND NETWORKS LOGO] - 25 MLN MANAGED
CHANNEL SUBSCRIBERS
-----------------------------------
EXTENSIVE LIBRARY - 23 MLN JOINT VENTURE
----------------- CHANNEL SUBSCRIBERS
- 4,000 MOVIES --------------------------
- 24,000 TV EPISODES
-----------------------------------
</TABLE>
[VIVENDI UNIVERSAL LOGO]
<PAGE>
BLAIR WESTLAKE, CHAIRMAN
UNIVERSAL TELEVISION &
NETWORKS
[VIVENDI UNIVERSAL LOGO]
