Announcement

Collapse

Your Assistance Please

We need your help to battle spammers and also to keep our community user friendly.
PLEASE BE KIND TO OTHERS - Refrain from personal attacks. Avoid politics and harsh language whenever possible. If someone is violating our simple rules, DO NOT confront them, simply report the post.
STOP SPAMMERS - Report the post. DO NOT respond to them.

2017 is a year of renewal for us, we have lots of exciting changes on the way for you, but we don't have time to deal with trolls and spammers. If you find yourself suspended and need to plead your case, you will need to do so after your suspension. We are happy to address your concerns if you made a simple mistake. However, please note that those with a history of bad behavior and pushing our rules to the limit will not be given the courtesy of a reply.

MiceChat offers a number of ways for you to communicate and get involved. We offer Facebook Groups and Pages, Twitter, Instagram and Pinterest accounts. We have a front page filled with amazing content. We offer weekly meetups in the parks. Meets and events all over the world. Podcasts and videos. And we continue to maintain forums for your posting convenience. But with all those options, we can't be everywhere all the time. We need YOUR help. Please don't poke the trolls. Report posts and leave reputation. We'll do our best to keep the forums clean and active, but we can't do so without your help.

Thank you for your support folks, it's going to be a really fantastic year in the MiceChat world.
See more
See less

Imax seeks new capitol, regain focus - Los Angeles Times 12/11/06

Collapse

Ad Widget

Collapse
This topic is closed.
X
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Imax seeks new capitol, regain focus - Los Angeles Times 12/11/06

    Imax seeks new capital to help in regaining focusfull article at http://www.latimes.com/entertainment...business-enter
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

  • #2
    Re: Imax seeks new capitol, regain focus - Los Angeles Times 12/11/06

    Imax no longer on block

    Company has another setback

    By Tamsen Tillson
    Variety
    December 18, 2006

    Imax has for the second time taken itself off the block as an "acceptable" buyer has failed to materialize. The Toronto-based large-screen exhibitor put itself up for sale in March.

    "While Imax received interest from multiple parties in our process of exploring a potential sale or merger of the company, none ultimately indicated a willingness to acquire the company at an acceptable valuation," said co-chairs and co-CEOs Rich Gelfond and Brad Wechsler.
    News came after the markets closed Friday. Imax shares have slid from their 52-week high in mid-March of $10.85 to close Friday at $4.20.

    The 39-year-old company, which has in recent years been enjoying improved fiscals and a higher profile with the unspooling of reformatted Hollywood tentpoles, hired investment banks Allen & Co. and UBS Warburg March 9. The hope was that a deep-pocketed buyer would help Imax move beyond its traditional business model of selling its projection systems to a more profitable one, a la HBO, in which it takes a share of the B.O. proceeds and can move back into production.

    But instead of a white knight, the company was hit with a series of setbacks. The SEC and the Ontario Securities Commission had some questions. Chief financial officer Frank Joyce exited in August. And its share price, which had already begun a steady descent, plunged with the news in August that its ideal buyer was not forthcoming.

    In its latest quarter, the company shed $12 million in red ink, and much-hyped "The Ant Bully" turned in disappointing B.O. In addition, the release of the 3-D Imax version of "Happy Feet" had to be downgraded to a 2-D release because the film was finished too late.

    There's an unpleasant sense of deja vu for the company, which in 2000 put itself up for sale at the behest of its then-largest shareholder, Wasserstein Perella. Generalized woes in the exhibition industry were blamed for the subsequent freefall in the company's share price and its decision to pull itself off the block at the time.

    Company brass are keeping a stiff upper lip, however, reporting plans to stay the current strategic course of international expansion -- there are 280 Imax theaters in 40 countries -- and the development of its money-saving digital projection system, skedded to roll out in 2008.
    http://www.variety.com/article/VR111...goryid=13&cs=1
    "If you don't know how to draw, you don't belong in this building" - John Lasseter 2006

    Comment

    Ad Widget

    Collapse
    Working...
    X