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In 1987, Seagram engineered{{clarify|date=March 2022}} a $1.2 billion takeover of French cognac maker [[Martell (cognac)|Martell & Cie]].
In 1995, Edgar Bronfman Jr. was eager to enter the film and electronic media business. On April 6, 1995, after being approached by Bronfman, DuPont announced a deal whereby the company would buy back its shares from the Seagram Company for $9 billion. Seagram was heavily criticized by the investment community—the 24.3% stake in DuPont accounted for 70% of Seagram's earnings. [[S&P Global Ratings|Standard & Poor's]] took the unusual step of stating that the sale of the DuPont interest could result in a downgrade of Seagram's more than $4.2 billion of long-term debt. Bronfman used the proceeds of the sale to acquire a [[controlling interest]] in [[MCA Inc.|MCA]] from [[Panasonic|Matsushita]], whose assets included [[Universal Studios|Universal Pictures]] and its [[Universal Destinations & Experiences|theme park]]s
Later in 1998, Seagram purchased [[PolyGram]] and [[Deutsche Grammophon]] & scattered the assets within Universal Studios (notably Universal Music Group).<ref>{{Cite news |last=Shapiro |first=Eben |date=1998-05-11 |title=Seagram Nears PolyGram Purchase After Talks With EMI Fall Apart |language=en-US |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/SB894849159710492500 |access-date=2024-01-01 |issn=0099-9660}}</ref><ref>{{Cite news |last=Philips |first=Chuck |last2=Eller |first2=Claudia |date=1998-05-22 |title=Seagram Uncorks $10.6-Billion Deal to Buy PolyGram |work=[[Los Angeles Times]] |url=https://www.latimes.com/archives/la-xpm-1998-may-22-mn-52474-story.html |access-date=2024-01-01}}</ref><ref>{{Cite web |title=Seagrams completes PolyGram acquisition - Dec. 10, 1998 |url=https://money.cnn.com/1998/12/10/companies/seagram/ |access-date=2024-01-01 |website=[[CNN Business|CNN Money]]}}</ref>
The same year, Seagram sold its juice business [[Tropicana Products]] that it acquired back in 1988 to [[PepsiCo]] for $3.1 billion.
In 2000, Edgar Bronfman Jr. sold controlling interest in Seagram's entertainment division to [[Vivendi]], and the beverage division to [[Pernod Ricard]] and [[Diageo]]. By the time Vivendi began auctioning off Seagram's beverages business, the once-renowned operation consisted of around 250 drink brands and brand extensions in addition to its original high-profile brand names.
A license from Pernod Ricard to produce Seagram's Cooler Escapes and Seagram's malt-beverage brands has been held by [[North American Breweries]] (formerly KPS) since 2009.<ref>{{Cite news|last=Kesmodel|first=David|date=2009-02-23|title=KPS Buys Beer Operations, Forms Company for Its Brewery Holdings|work=Wall Street Journal|url=https://www.wsj.com/articles/SB123539672926347641|access-date=2020-10-01|issn=0099-9660}}</ref>
On April 19, 2006, Pernod Ricard announced that they would be closing the former Seagram distillery in [[Lawrenceburg, Indiana]]. The distillery was instead sold in 2007 to [[CL Financial]], a holding company based in [[Trinidad and Tobago]] which then collapsed and required government intervention. They operated the distillery as Lawrenceburg Distillers Indiana. In December 2011, the distillery was purchased by MGP Ingredients, headquartered in Atchison, Kansas.<ref>[http://www.mgpingredients.com/news-and-press/news-releases/MGP-Ingredients-Inc-to-Purchase--132302333.html MGP Ingredients Inc. to Purchase Lawrenceburg, Indiana Distillery Assets], company press release, October 21, 2011.</ref> It is now known as [[MGP of Indiana]], and continues to be the source of the components of Seagram's Seven Crown, now owned by Diageo.
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== Legacy ==
[[File:NewYorkSeagram 04.30.2008.JPG|thumb|The [[Seagram Building]] in New York]]
The Seagram name survives today in various well-known drinks. [[Seagram's Seven Crown]], used to make the American cocktail, [[7 and 7]], is produced by [[Diageo]], while Seagram's V.O. is produced by [[Sazerac Company|Sazerac]].<ref name=":0" /> Several brands of coolers are produced under the Seagram name as of 2022: Seagram's Escapes are produced by [[Genesee Brewing Company|Genesee Brewing]] for the American market, while Seagram Island Time is produced by [[Waterloo Brewing Company|Waterloo Brewing]] for the Canadian market.<ref>{{Cite web|last=Cleveland|first=Will|title=Genesee Brewery manager: 'Seagram's Escapes is now our number one brand'|url=https://www.democratandchronicle.com/story/news/2021/03/19/genesee-brewery-parent-company-increase-seagrams-escapes-production/4748516001/|access-date=2022-02-03|website=[[Democrat and Chronicle]]|language=en-US}}</ref><ref>{{Cite web|last=|first=|title=Waterloo Brewing launches Seagram Island Time Coconut Lime Cocktail|url=https://www.newswire.ca/news-releases/taste-the-tropics-waterloo-brewing-launches-seagram-island-time-coconut-lime-cocktail-841596302.html|access-date=2022-02-03|website=www.newswire.ca|language=en}}</ref> The Coca-Cola Company currently produces Seagram's Ginger Ale soda line since 2002 & made it widely available in 2011.<ref>{{Cite web |date=2011-02-28 |title=Coca-Cola Launches That Special Seagram's Sparkle Across the U.S. |url=https://investors.coca-colacompany.com/news-events/press-releases/detail/88/coca-cola-launches-that-special-seagrams-sparkle-across |access-date=2024-01-02 |website=The Coca-Cola Company |language=en}}</ref>
Seagram's House, the former company headquarters in Montreal, was donated to [[McGill University]] by [[Vivendi Universal]] in 2002, then renamed [[Martlet House]].<ref>{{cite news|last=Desjardins|first=Sylvain-Jacques|date=2004-04-25|title=Seagram Building reborn as Martlet House|work=McGill Reporter|url=https://www.mcgill.ca/reporter/36/13/martlethouse/|access-date=2009-02-07}}</ref> The landmarked [[Seagram Building]], once the company's American headquarters in [[New York City]], was commissioned by [[Phyllis Lambert]], daughter of Seagram CEO [[Samuel Bronfman]], and designed by architect [[Ludwig Mies van der Rohe]] with [[Philip Johnson]]. Regarded as one of the most notable examples of the [[Functionalism (architecture)|functionalist]] aesthetic and a prominent instance of corporate [[modern architecture]], it set the trend for the city's skyline for decades to follow, and has been featured in several Hollywood films. On completion in 1958, its costs made it the world's most expensive skyscraper.<ref name="NYT1">{{Cite news |url=https://www.nytimes.com/2000/10/12/nyregion/on-park-avenue-another-trophy-changes-hands.html|title = On Park Avenue, Another Trophy Changes Hands |newspaper=The New York Times |date=12 October 2000 |last1=Bagli |first1=Charles V.}}</ref> The Bronfman family sold the Seagram building to [[TIAA]] for $70.5 million in 1979.<ref name="NYT2">{{Cite news |url=https://www.nytimes.com/1988/04/21/nyregion/seagram-landmark-move-is-backed.html |title=Seagram Landmark Move is Backed |newspaper=The New York Times |date=21 April 1988 |last1=Dunlap |first1=David W.}}</ref>
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