CHUM posts profit gains

CHUM posted profits of $25.4 million for the fiscal year ending Aug. 31, 2003, representing an 80% jump over 2002. Overall revenue increased 12.6% to $412.3 million, with television revenue increasing 15.1%. CHUM’s growth in conventional television advertising sales (a 15% increase versus the national average of 7.4%) is due mostly to Citytv Toronto’s strong performance, according to year-end results. Forth-quarter profits were $2 million, up from a $4-million loss over the same quarter last year.

LGE pays $160M for Artisan

On Oct. 27, Lions Gate Entertainment made good on a move to acquire Artisan Entertainment and will pay US$160 million for the distributor in a deal expected to close by year’s end. LGE will gain distribution muscle and a roster of 6,700 titles – including The Blair Witch Project and It’s a Wonderful Life – making it the world’s largest independent film library. The new deal could save up to US$25 million in overhead costs in the first year. Artisan shareholders, which include CTV and Bell Globemedia, may also receive additional cash based on the performance of certain films.

Onex to partner Cineplex with Galaxy

Onex Corporation has taken steps to partner its Canadian film exhibition interests through an income trust offering that could fetch $200 million. Cineplex Odeon, a subsidiary of Lowes Cineplex Entertainment Corporation with assets including 63 theaters with 583 screens across the country, will combine with Galaxy Entertainment, Canada’s fourth-largest exhibitor, with 148 screens at 18 theatres concentrated in mid-sized Canadian markets.

The Cineplex Galaxy Income Fund filed a second prospectus with the securities regulatory authority for an initial public offering on Oct. 27; the initial prospectus was filed on Oct. 3. The fund will use the offering to facilitate the Cineplex Odeon-Galaxy partnership, by acquiring the assets of both film exhibitors. The resulting limited partnership would operate theaters under the Cineplex Odeon and Galaxy brands.

NFB sponsors cinema doc award

The National Film Board will sponsor a new award for best cinema documentary at the Grierson Awards, among the world’s top prizes for film and television documentaries. The new National Film Board Award for Best Cinema Documentary was established to recognize and encourage the theatrical release of documentary films. The four nominees for the NFB award are: Belonging, Biggie & Tupac, Bowling for Columbine and Prisoner of Paradise. The Grierson Awards, established in honor of NFB founder John Grierson, will be held Nov. 17 in London.

Stewart in for Bullard

CTV has filled Mike Bullard’s old timeslot with The Daily Show With John Stewart, bringing the satirical news program to conventional TV for the first time in its eight-year run. The show, a major draw on Comedy Central in the U.S. and on CTV’s sister channel The Comedy Network, began airing weeknights at midnight Nov. 3.

The net also recently picked up the reality series Newlyweds: Nick and Jessica, but has not set an airdate. Both shows are handled by MTV Networks International, through which CTV also bought the prank show Punk’d and The Osbournes.

Meanwhile, Bullard, who defected to CanWest Global in August, is set to debut his new talk show Nov. 24.