Entertainment rivals join forces

Article Abstract:

Alliance Communications Corp. is merging with Atlantis Communications Inc. to form a studio-style TV and film production company called Alliance Atlantis Communications Inc. Around 28% of the Canadian television-production market will be controlled by the new firm which will reportedly rank among the top 12 entertainment suppliers in the world. Atlantis chairman Michael McMillan will head the new firm while Robert Lantos, co-founder and chief executive of Alliance, will retire to receive over C$50 million in shares and options plus a severance package upon approval of the merger by shareholders scheduled for September 1998.

Comment:

Will be formed from the merger of Alliance Communications Corp and Atlantis Communications Inc

Acquisitions & mergers, Organizational history, Ontario, Television Production, Alliance Atlantis Communications Inc., Atlantis Communications Inc.

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Alliance founder cuts sweet deal

Article Abstract:

Alliance Communications Corp. Founder Robert Lantos will gain as much as C$60 million upon completion of the sale of the company to rival Atlantis Communications Inc. Lantos will receive around C$5 million as termination pay, in addition to C$5 million in producers' fees. The founder is also due to gain around C$50 million when he sells his shares and options. Atlantis will allow Lantos to produce as many feature films as he wants, with aggregate budget of as much as C$100 million. Certain fees and commissions from those films will be given to Lantos, but he will be responsible for budget overruns.

Comment:

Founder Robert Lantos will gain as much as C$60 mil upon completion of sale of company to rival Atlantis Communications Inc

Canada, Executive changes & profiles

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Fox snaps stake in Montreal firm

Article Abstract:

Fox Family Worldwide Inc. has announced its intention to acquire a 20% interest in Montreal, Quebec-based Cine-Groupe Inc. in a deal valued at an estimated $4 million. Cine-Groupe is a 2-D and 3-D animation production house with annual revenue of about C$16 million and is controlled by Lions Gate Entertainment Corp. Lions Gate senior vice-president Dennis Miller said the investment will help expand the boundaries of Cine-Group, broadening its focus outside French-Canadian-based production to global-based production.

Comment:

May sell a 20% interest in firm to Fox Family Worldwide in a deal valued at an estimated $4 million

Asset sales & divestitures, Quebec, Cine-Groupe Inc.

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