IMAX not for sale
After several months of seeking potential buyers, Toronto-based IMAX Corporation has opted to pull itself off the market. Uncertainty in the commercial exhibition market has caused stock prices to plummet, and the publicly traded company has felt the ripple effects. In a recent press statement co-CEOs Richard L. Gelfond and Bradley J. Wechsler said, ‘We and the Board of Directors believe that the company’s stock price does not accurately reflect the company’s long-term value.’ IMAX expects its results for the 2000 fiscal year to be in the US$0.60 – $0.70 per share range.
Unapix cuts back
New York-based Unapix Entertainment recently announced a strategy of refocusing on its core businesses – production and distribution of film, video and TV. The decision to scale back – including a 15% cut to staff – comes in the wake of second quarter losses and a failed investment deal with Germany’s H5B5 Media. Unapix states that it expects to reduce operating costs by about US$5 million per annum.
In addition, president of the Unapix Television division, Rob Miller, has resigned his position to go into independent television sales. No replacement has been named.
Date set for Hot Docs! 2001
The Hot Docs! Canadian International Documentary Festival has announced its 2001 run, to be held from April 30 to May 6 in Toronto. By popular demand, Hot Docs! will bring back The Toronto Documentary Forum (running May 2-3), and a newly expanded Doc Shop – an international documentary market consisting of an ‘on-demand’ videotheque and a video library of approximately 600 docs. Four months after the debut of the Toronto Documentary Forum, Hot Docs says a poll of
producers and commissioning editors indicates that over 40% of the projects pitched have successfully attracted additional co-financing, with another 16% pending possible deals.
Extreme International is building bridges between tech channels. The U.K.-based distributor recently sold six original [.tv] series – [.tv] is a U.K-based tech channel – to Israel’s Noga Communications for its Internet and Hi Tech Channel. Noga launched Internet and Hi Tech as a 24-hour channel in July.
Extreme International’s parent company, the Extreme Group, recently launched the Extreme Sports Channel on Sky Digital in the U.K. and on Telekabel cable network in Llublja, Slovenia.