Astral boosts its stake in Artech

Article Abstract:

Astral Communications Inc. of Montreal, Canada, is increasing its stake to 51% in entertainment software developer Artech Digital Entertainments Inc. of Ottawa, Canada. Terms of the transaction regarding the purchase of the 16% in shares from Astral and Artech founders Paul Butler and Rick Banks were not disclosed. Astral's earning for its fiscal third quarter ended May 31, 1998, rose to C$3.4 million, or 24 cents a share, from C$2.6 million, or 20 cents a share, a year ago. The company's revenues went up to C$ 87.7 million in the quarter from C$69 million in the previous year.

Comment:

Is increasing its stake to 51% in entertainment software developer Artech Digital Entertainments of Ottawa, Canada

Canada, Software Publishers, Asset sales & divestitures, Acquisitions & mergers, Motion Picture and Video Distribution, Energy Mgmt Software Pkgs (Micro), Video Repackagers, Image processing software, Video distributors, Artech Digital Entertainment Inc., Astral Communications Inc.

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OSC delving into Livent's books

Article Abstract:

Livent Inc., the Toronto, Canada-based live theatre production company, is being probed by the Ontario Securities Commission (OSC) over alleged accounting irregularities. The bookkeeping issues include deals that contained previously unknown written and oral arrangements that materially change the transaction but were not revealed to the board. The US Securities and Exchange Commission is also expected to look into the allegations. The company was taken over in spring of 1997 by Hollywood power broker Michael Ovitz and Wall Street investment banker Roy Furman.

Comment:

Is being probed by the Ontario Securities Commission over alleged accounting irregularities

Government regulation (cont), Ontario, Theatrical Producers & Artists, Performing Arts Companies, Livent Inc.

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