Cineplex deal on hold

The March announcement of a proposed us$350 million merger between Cineplex Odeon and Dallas-based Cinemark is officially on hold. Under the agreement – which would give Cinemark control of just under 30% of the new company – Cinemark and Cineplex shareholder mca were to have equal voting rights.

When Seagram Company, controlled by the Bronfman family, bought mca for us$5.7 billion last month, it skewed the voting rights in the family’s favor.

Cineplex executive vp of marketing and communications Howard Lichtman says an answer regarding the merger is expected by the end of the month.

The original plan between the two exhibitors to form Cineplex International would have created North America’s largest theater chain.

Alliance on Nasdaq

Alliance Communications will raise equity in the u.s. by way of a share reclassification that will place non-voting stock on Nasdaq.

Alliance is looking to build interest in the American financial and entertainment markets while maintaining its eligibility for Telefilm Canada and other agency funding.

Each common share will be converted into one-half voting share and one-half non-voting share.

Malo has boffo year

at the video box office

Malofilm Communications reports its revenues in video sell-through have doubled over last year while tv sales grew 32%.

The company is also reporting net earnings of $386,129 or $0.09 a share, an 85% hike over last year, for the quarter ending March 31. Revenues for the period are $7.85 million, up over $5.3 million in ’94.