Montreal: Vivendi Universal, through its Canadian operation Universal Studios Canada, has announced a five-year, $300-million investment in the Canadian film, new media and music industries.

The studio says it has made ‘extensive commitments to promote growth in Canadian companies involved in the production and distribution of Canadian films and music and in Canadian new media companies. In addition, Vivendi Universal will contribute to the international promotion and distribution of Canadian films and music.’

On the film side, the studio says it will invest at least $180 million over the term in film production, post-production and related activities, including the production and manufacture of theatrical release prints for the Canadian market.

The statement did not indicate what verification procedures had been put in place, if any.

Additional commitments include setting up a venture capital fund for Canadian businesses in the Internet and new technology sectors, and a contribution of $22.5 million for educational programs to study music, film, tv, interactive media; to promote cultural industry festivals, the film and music trade for professional cultural associations; and third-party independent studies of cultural industries.

The studio says it will promote Canadian films and tv shows and invest $6 million in the distribution of Canadian theatrical movies and/or films made for home video or television by Canadian-controlled entities in Canada and by Vivendi Universal and others in non-Canadian markets.

The film undertakings are to be managed by Eric Pertsch, president, Universal Studios Canada.

The music-related undertakings will be administered by Ross Reynolds, chairman emeritus, Universal Music Canada.

Vivendi Universal is the international media conglomerate created last fall following Vivendi sa’s acquisition of Montreal-based Seagram, and the merger of Seagram’s Universal Studios and French broadcasting and production company Canal+. •