Seagram Trading Interrupted Amid Rumors

Trading in the stock of Seagram Co., the spirits and entertainment giant, was halted for more than an hour amid rumors that the company is planning a further shake-up at its Universal Studios unit, or possibly planning to sell its Tropicana juice operation. Seagram shares jumped $2.63 to close at $40.13 on the New York Stock Exchange. Seagram executives declined to comment specifically on the rumors, but downplayed the frenzy. Universal Studios President Ron Meyer, whose job status was also the subject of speculation, as was that of Chairman Frank Biondi, flatly denied the myriad rumors swirling around the studio and its parent. “I promise none of it is true,” Meyer said. “That includes my being fired or Frank being fired.” There has been a major corporate shake-up at Universal in the last week, with the termination of Buffy Shutt and Kathy Jones, Universal’s marketing presidents; Marc Platt, production president; and Howard Weitzman, executive vice president.