Alliance sets profit record
Article Abstract:
Alliance Communications Corp. has posted record profits of C$24.3 million in fiscal 1998 ending March 31, 1998 versus profits of C$18.2 million in fiscal 1997. Total sales also increased to C$385 million in fiscal 1998 from C$282.2 million in fiscal 1997. The significant increase was attributed to strong contributions from Alliance's three units namely film production, television (TV) production and TV broadcasting units. The commercial success of the Oscar-nominated movie titled The Sweet Hereafter boosted sales at Alliance Motion Picture Group by 30%. TV production posted a 66% rise in sales to C$183 million from C$110.5 million, while TV broadcasting posted a 15.6% increase to C$23 million from C$19.9 million.
Comment:
Posts record profits of C$24.3 mil in fiscal 1998 ending 3/31/98 vs profits of C$18.2 mil in fiscal 1997
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Lions Gate posts loss in first fiscal year
Article Abstract:
Lions Gate Entertainment, headquartered in Vancouver, British Columbia, has generated a loss of C$550,000 in its fiscal 1998. The firm, which was established by Frank Giustra in 1997, managed to register C$25.5 million in revenues. The entertainment company maintains that the loss was spurred by its inability to effect a smooth integration of acquisitions and newly-formed divisions. Lions Gate, which recently formed Lions Gate Media, has expressed optimism that its financial performance will eventually improve and its dreams of being Canada's first fully integrated entertainment entity fulfilled.
Comment:
Generates loss of C$550,000 & revenues of C$25.5 million in its fiscal 1998
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Corus buys Power Corp.'s broadcasting assets
Article Abstract:
Corus Entertainment Inc of Toronto, Ontario, has announced a deal to acquire the broadcasting assets of Power Corporation of Canada for C$107.5 million. The assets, which include 17 radio stations and 4 television station in Ontario and Quebec, have combined annual revenue of more than C$37 million. Corus currently owns 14 radio stations and owns or has interests in six specialty channels. Corus, which was formed because of concerns about Shaw Communication Inc's ownership of TV stations, is projecting a revenue of C$260 million in its first full year.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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