Vivendi’s benefits package persuades Copps to approve Seagram acquisition
Broadcast | 02/01/2001 5:00 am EST
Heritage minister Sheila Copps decided to waive foreign ownership guidelines that would have prevented Vivendi Universal from purchasing Seagram Ltd, after concluding that the company’s $300-million benefits package warranted an exception to the restriction. Under the Foreign Investment Guidelines, foreign takeovers of Canadian-controlled film distribution firms are technically prohibited, although the minister does reserve the right to grant approval if there are net benefits to Canada (CCR, July 6/00).
This content is available to wirereport.ca subscribers
Already a subscriber? Sign in here
Unlock all the Canadian telecom, broadcasting and digital media news you need.
Take a free trial or subscribe to The Wire Report now.
FREE TRIAL
Two weeks free access to thewirereport.ca and our exlusive newsletters.
SUBSCRIBE
Unlimited access to thewirereport.ca and our exlusive newsletters.