Saudi Prince in Talks for PolyGram Film Assets

A Saudi prince is in the advanced stages of talks with Seagram Co. to buy PolyGram’s remaining film assets, sources said. But they cautioned that a deal is far from certain. Seagram, which has been trying to sell PolyGram Filmed Entertainment since May to offset its $10.4-billion purchase of entertainment group PolyGram, declined comment. After failing to get $1 billion for the entire film company, it opted to sell it in parts, with MGM Inc. paying $250 million for the movie library. Sources said Saudi Prince Muhammad Bin Bandur Abdul Aziz, a newcomer to Hollywood, wanted to buy the movie production and distribution assets for about $400 million.