Cinar to seek new TSX listing

AT its April 9 AGM and special meeting of shareholders, Cinar Corp. management said it is gearing up to have the cease-trade order on its shares lifted by the Quebec Securities Commission and other security authorities. Trading of Cinar shares was halted on both the TSX and NASDAQ in March 2000.

Cinar reported 6.4% growth in revenues to $141 million for the year ended Nov. 30, 2002. The company says it maintains a strong cash position with $61.9 million in cash reserves and short-term investments. Gross margins were up year over year by 46% to $70.3 million. Net loss is $6.5 million.

At the AGM, Stuart Snyder, Cinar’s newly named president and CEO, said the company would shortly begin targeting live-action family feature films for the DVD and TV markets.

Snyder announced that Matt Mazer has been named president of Cinar’s new live entertainment division.

Chairman Robert Despres further indicated the company ‘is not currently actively pursuing the sales transaction process that began in 2001, but [is] receiving inquiries in respect to the sale of the company through its financial advisors.’

TMN introduces sub-brands

ON May 1, The Movie Network will launch three new sub-brands under its original umbrella brand.

The TMN channels currently known as M2, M3 and M4 will soon change over to MFun!, MExcess and MEscape. MFun will feature comedy programming, while MExcess will focus on entertainment, according to the net, ‘with a sexy, thrilling edge.’

While MExcess will target a young demographic, MEscape is positioned towards a more mature crowd with smart films with an emotional bent.

Shaw adds two HD nets

SHAW Cablesystems has added two Seattle broadcasters, KOMO and KCPQ, to its list of HD television channels.

Shaw launched its first HDTV channel in Vancouver and Calgary this past January, and now offers five networks broadcasting full HD.

OMDC, CITO launch Pioneering Content

THE Ontario Media Development Corporation and Communications Information Technology Ontario are promoting the ‘cultural products of tomorrow’ with a new joint program called Pioneering Content.

The initiative will see grants of up to $70,000 given to six project teams in its first cycle. Decisions for the first round will be made near the end of May, while the next set of applications will be accepted around August.

Project teams must consist of at least two organizations from different industries served by the OMDC, including publishing, film, TV, music and interactive digital media.

The program is looking for innovative use of technology and will help link producers to different cultural sectors.

Program guidelines and application forms are available at www.omdc.on.ca.