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Filed by The Seagram Company Ltd.
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
Date: August 31, 2000
THE FOLLOWING IS A PRESS RELEASE DISSEMINATED BY
THE SEAGRAM COMPANY LTD. ON AUGUST 30, 2000
Contact:
Mia Carbonell
Media Relations
212/572-7556
Anita Larsen
Media Relations
212/572-1118
Joseph M. Fitzgerald
Investor Relations
212/572-7282
Eileen McLaughlin
Investor Relations
212/572-8961
CANADIAN COMPETITION BUREAU CLEARS PROPOSED
BUSINESS COMBINATION OF VIVENDI, SEAGRAM AND CANAL+
MONTREAL, August 30, 2000 - The Seagram Company Ltd. [NYSE:VO] confirmed today
that the Canadian Competition Bureau yesterday concluded its review of the
proposed strategic business combination of Vivendi, Seagram and Canal+, and it
advised that it will not challenge the completion of the transaction.
Accordingly, the parties have satisfied their obligations with respect to the
transaction pursuant to the Competition Act (Canada).
Regulatory approvals in Canada remain pending before Industry Canada and the
Department of Canadian Heritage. Those reviews are anticipated to be completed
in due course.
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The Seagram Company Ltd., headquartered in Montreal, operates in four global
business segments: Music, Filmed Entertainment, Recreation and Other, and
Spirits and Wine. Universal Music Group, the world's largest recorded music
company, produces, markets and distributes recorded music throughout the world
in all major genres, and it is engaged in music publishing. The Company's Filmed
Entertainment business produces and distributes motion picture, television and
home video products worldwide; operates and has ownership in a number of
international cable channels; and engages in the licensing of merchandising
rights and film property rights. The Recreation and Other business
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operates theme parks and retail stores. It is also involved in the development
of entertainment software. The Spirits and Wine business is engaged principally
in the production and marketing of distilled spirits, wines, coolers, beers and
mixers throughout more than 190 countries and territories. The Company's
corporate website is located at www.seagram.com.
This release may 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 the current expectations or beliefs of
Seagram's management 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 this
release address the strategic business combination of Vivendi, Seagram and
Canal+.
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, Seagram and Canal+ businesses will not be integrated successfully;
costs related to the business combination; failure of the Vivendi, Seagram or
Canal+ shareholders to approve the business combination; 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; and the 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 strategic business combination transaction
when it becomes available, because it will contain important information. The
joint proxy statement/prospectus will be filed with the U.S. Securities and
Exchange Commission by Vivendi, Seagram and Canal+. 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, Seagram and Canal+ 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 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.
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