*Library revs force down Telescene net earnings

A $2-million drop in Telescene Film Group library revenues has dragged down consolidated net earnings in the second quarter, the production company reports.

Library revenues were $1.1 million in the three months ending Aug. 31, compared to $3.1 million for the same period in 1998. As a result, Telescene reports consolidated net earnings are down 28% to $721,000 in the second quarter this fiscal year from $1 million over the same period in 1998.

Still, the company points out, consolidated net earnings were $1.7 million in the six months ending Aug. 31, as compared to $1.1 million for the six-month period last year, a 50% increase.

Meanwhile gross revenues were reported up 28% in the second quarter over the same period last fiscal year: $12.1 million up from $9.5 million.

During the second quarter, Telescene delivered 12 half-hours of tv programming, including six one-hour episodes of Sir Arthur Conan Doyle’s The Lost World, which premiered on DirecTv.

*AAC executives tighten control with stock buy

Top brass at Alliance Atlantis Communications, including chairman Michael MacMillan, have increased their control of the company by acquiring an additional 250,000 class a voting shares in a private purchase.

MacMillan and senior executives Seaton McLean, Ted Riley and Peter Sussman – through jointly owned, private company Stampco Holdings – now control 59.5% of the voting stock, up from 54.5%.

The group may seek to tighten its voting control even more down the road, aac said in a statement.

*Telepost’s post profit

Telepost Communications, which boosted its profile with the purchase of Finale Post Production, announced a profit for the first quarter of fiscal 2000 (ended Sept. 30). The company earned $24,800 on revenues of $100,600.

‘After many years of management’s time spent on debt reduction, the focus has now shifted to accelerated growth, in both post-production and video duplication,’ says company chair Steven McDonald.

On Oct. 7, the company was trading on the Vancouver Stock Exchange at its year high of $0.30 per share.