How much did Seagram pay to buy a large share of MCA/Universal?
Matsushita provided a cash infusion, but the clash of cultures was too great to overcome, and five years later Matsushita sold an 80% stake in MCA/Universal to Canadian drinks distributor Seagram for $5.7 billion. Seagram sold off its stake in DuPont to fund this expansion into the entertainment industry. Hoping to build an entertainment empire around Universal, Seagram bought PolyGram in 1999 and other entertainment properties, but the fluctuating profits characteristic of Hollywood were no substitute for the reliable income stream gained from the previously held shares in DuPont.