* Lions Gate expects $14 million loss

Vancouver: Lions Gate Entertainment of Vancouver is warning investors about an anticipated net loss of approximately $14 million or $0.58 per share for the fiscal year ended Mar. 31.

The losses – which are largely non-cash charges – stem from an equity investment in Peter Guber’s Mandalay Pictures in Los Angeles, which did not release a feature film. Also during the fourth quarter, the company’s other divisions wrote off certain development costs related to projects that have not gone into production, took increased provisions against investment in film and television programs, and wrote off previously recognized benefits of income tax losses.

Lions Gate also incurred costs related to severance and relocation associated with centralizing operations in Toronto.

On July 19, Lions Gate shares closed at $2.29 each, well off its year-high of $6 and near its year-low of $2.25.

* Cineplex Odeon first quarter results

Loews Cineplex Entertainment reports Cineplex Odeon’s first quarter results. Revenue for the three months ended May 31 was $201.8 million, compared to $117.8 million for the same period last year. Earnings before interest, taxes, depreciation and amortization, and losses on theatre dispositions were $20.9 million, compared to $19.9 million in the prior year. Net loss totaled $21.9 million, or $0.37 per share, compared to a net loss of approximately $750,000, or $0.03 per share a year earlier.

* Private tv profits dip

The Canadian Association of Broadcasters, in its TVPlus newsletter for July, quotes a recent report from Statistics Canada which says cab member stations’ revenues increased 7% in 1998; however, since costs were also higher, profit margins fell to 6.2%, down from 9.8% a year earlier.

The report says before-tax profit for broadcasters dropped to $112.3 million in ’98, from $176.2 million in ’97, while combined tv and radio revenues last year were $4.14 billion, a 5% increase.