Alliance Atlantis Communications
Top-line revenues: $959.9 million in fiscal 2002, up 19% from 2001
EBITDA: $159.7 million, including operating losses associated with developing channels; 20% year-over-year increase
Net profits in 2002: $47.3 million
Shares: AAC.B shares on the TSX were trading in the $16.10 range in mid-November, with a 52-week high/low of $21.15 and $13.32
Ad revenue from TV: up 27% from fiscal 2001
Motion picture revenue: spiked upwards on the strength of The Lord of the Rings: The Fellowship of the Ring (more than $53 million in theatrical receipts in Canada). In fiscal 2002, the company released 83 theatrical features, 192 videos and 200 DVDs in Canada, and 14 theatrical features, 52 videos and 61 DVDs in the U.K.
Production: announced major cutbacks in production in 2003. However, it will continue its profitable partnership with CBS on CSI: Crime Scene Investigation and CSI: Miami in association with Jerry Bruckheimer Films. AAC is also shooting the four-hour CBS miniseries Hitler on location in Prague in late November
-www.allianceatlantis.com
Astral Media
Revenues: $400 million for fiscal 2002 (16% growth); a record year
EBITDA: $95 million (up 30% from 2001)
Net earnings: $57.1 million (almost double 2001), including a non-recurring net after-tax gain of $7.4 million
Cash reserves: $73.1 million
TV revenue: $318.6 million in 2002 (up from $267.9 million in 2001); reported a $13-million non-recurring after-tax gain on the sale of its share in The Comedy Network
Shares: ACM.A shares on the TSX were trading around $21 in mid-November, with a 52-week high/low of $27.00 and $16.55; completed a two-for-one split of its shares in April
Dispute: recently stated that owing to a dispute over payments, Family Channel is suspending its service to Videotron, affecting 50,000 subscribers
-www.astral.com
Corus Entertainment
Revenues: $652.8 million for fiscal 2002, up from $556.8 million last year
EBITDA: $156.4 million before absorbing the $40 million write-down of Nelvana’s library, compared to $123.9 million last year
Net income: a loss of $166 million after absorbing write-downs, restructuring and finance charges and asset sales, compared to net income of $128.2 million in fiscal 2001, which included a gain of $103 million primarily from the sale of Family Channel. The total (non-cash/pretax) write-down for Nelvana in ’02 is $200 million, including $160 million for goodwill and other intangibles
TV revenue: $284.7 million, up 24% from 2001, and up 12% on a pro forma basis. Television EBITDA was $90.1 million, up from $73.7 million
Shares: CJR.B shares on the TSX were trading in the $18.70 range in mid-November. The 52-week high/low is $38.75 and $18.02
Managerial moves: Michael Hirsh, cofounder and CEO of Nelvana, resigned last month; Paul Robertson, president of Corus Television, becomes chief executive at Nelvana; Peter Moss, VP programming at Corus, adds Nelvana’s development business to his duties; Emmanuele Petry, head of Nelvana’s European sales, assumes responsibility for all overseas marketing and sales
Production: TV output at Nelvana will be cut by about 40% to 150 half-hour episodes in fiscal 2003
-www.corusent.com
CHUM Limited
Revenues: $479.9 million in fiscal 2002, up $66.8 million from 2001
Net profit: $14.1 million, down from $17.5 million
Shares: CHM.B shares on the TSX were trading in the $38.99 range in mid-November, with a 52-week high/low of $64.50 and $37
Application: CHUM Television has applied to the CRTC for over-the-air broadcast licences in Calgary and Edmonton and a retransmitter in Red Deer. If successful, CHUM will have 10 local stations in B.C., Alberta and Ontario. The Ontario licences were fully renewed last month, while the new Citytv station in Vancouver received a limited two-year renewal
Operations: CHUM Limited owns and operates 28 radio stations, eight local television stations and 17 specialty channels, as well as an environmental music distribution division. Its original content is seen in more than 100 countries worldwide and is also provided online
-www.chumlimited.com
Lions Gate Entertainment
Revenues: $426.6 million in fiscal 2002, a 45% increase over 2001; $172.1 million for the first six months of fiscal 2003, a 64% increase over 2002
Restructuring and write-downs: (fiscal 2002) notably in Mandalay Pictures and VOD service CinemaNow, totaling $52.5 million, resulting in a total net loss of $73.6 million
Sell-off: announced in early November it had sold its 45% equity interest in Mandalay Pictures LLC to Mandalay principals Peter Guber and Paul Schaeffer in a $10-million deal
EBITDA: (first half of fiscal 2003) $13 million; net income available to common shareholders is $2.1 million, compared to a net loss of $2 million in 2002
Motion picture revenue: (fiscal 2002) $251.3 million, up 39%; a record year
TV revenue: (fiscal 2002) $110.7 million, a 49% increase. One-hour drama series contributed $55.8 million; TV movies $31.3 million; the Termite Art division $23.5 million on delivery of nearly 80 hours of nonfiction programming to U.S. cable networks
Other revenue: animation partner CineGroupe generated $55.6 million; studio facilities’ revenue increased to $6.6 million
Shares: LGF shares on the TSX were trading in the $3.15 range in mid-November, with a 52-week high/low of $4.05 and $2.61
-www.lionsgatefilms.com