Current PolyGram Chief To Step Down

The Seagram Company will announce Doug Morris as CEO of its combined

music business after finalizing the recent $10.6 billion purchase of PolyGram,

with

current PolyGram leader Alain Levy being tendered a generous severance

package, according to a Los Angeles Times report. Levy may leave as

soon as next week, with CFO Jan Cook serving as interim chief.