CanWest loses $211M

CanWest Global Communications posted a second-quarter loss of $211.3 million on April 21, pinning much of the blame on the $153.8-million writedown of its Fireworks Entertainment subsidiary, which is now up for sale. The company reported a net gain of $10 million for the same period last year.

President and CEO Leonard Asper says the ‘disappointing’ returns in Canuck TV were offset by gains in print, and by broadcast holdings in Australia and New Zealand.

Profits dip at Peace Arch

EARNINGS at Peace Arch Entertainment slipped in its second quarter, according to a statement issued April 27, which reports net Q2 ’03 gains at the Toronto prodco of $1.5 million, down from $4.8 million for the same period last year. Revenues were down for the quarter to $7.7 million, from $10.1 million in Q2 ’02, which the company attributed to delivery of an additional feature film.

Winning Big at the Emmys

Toronto production design shop Big Studios recently won its third Sports Emmy. Big won for outstanding graphic design for the ABC Sports broadcast of Super Bowl XXXVII. Jocelyne Meinert, the shop’s partner and creative director, accepted the award at the New York gala along with designers Shannon Wong, Dennis Tan and Raj Dias.

Big had to supply motion graphics for more than seven broadcast hours of the most-watched U.S. sports event. The studio shared an Emmy win in 1995 for its work on the opener for ABC’s Monday Night Football and won again for its Super Bowl work with ABC in 2001.

GoreWorld

Former U.S. vice-president Al Gore has purchased Newsworld International from Vivendi Universal Entertainment, taking control of the 24-hour channel that beams CBC-produced news into the U.S., the Caribbean and Mexico. INdTV Holdings, a company held by Gore and partner Joel Hyatt, announced the buy at the convention of the National Cable and Television Association in New Orleans on May 4.

Gore will serve as chairman of the board and says he will devote most of his time to the channel, but insists it will remain non-political. CBC will continue to produce NWI’s programming, airing its The National, Foreign Assignment, Hot Type and other shows. The Ceeb’s NWI agreement is up for renewal in 2005.

No Spain, no gain

Alliance Atlantis’ distribution wing has paid $74 million for Spanish distrib Aurum Producciones, picking up a library of more than 400 titles and following through on a pledge to gain ground in Europe. Aurum is the largest indie distributor in the country, reporting a 6.5% market share of box-office receipts in 2003 and drawing revenues of some $118 million. AAC expects to close the deal within the month.