Maybe this frees up Diller to do the kind of deal he wants to do in the U.S.. Clearly Diller felt Bronfman was holding him back. Maybe Messier will be more willing to let him deal.

If the deal bombs, he's no worse off than he was before.

Michigan Avenue are serious players in the aluminum industry, but without any details of the bid or the source of the funding it is difficult to evaluate.

The one unambiguous winner today is Barry Diller. It doesn't solve all of his problems, but he's better off than he was before.

Every major participant in this industry is taking a strong look at Seagram.