Seagram on Wednesday reported first-quarter earnings that "beat the street," thereby sending shares in the company climbing. The Montreal-based company, which is merging with the France's Vivendi, said that its net income rose to $21 million against a loss of $95 million during the same quarter a year ago. It attributed the strong results to film hits like Gladiator and The Nutty Professor II: The Klumps, video hits like Erin Brockovich and a collector's edition of Jaws -- as well as standout performance by its music business.

Source: Studio Briefing