* Sam Wendel, director of the Telefilm Canada office in l.a., is moving to the private sector to head up Cinar Films’ soon-to-be-opened l.a. office. Cinar will also open an office in London, Eng., and has named Mike Watts as its head. Cinar cfo Michel Brunet says both offices should be open by June.
Wendel is expected to pursue new strategic partnerships in u.s. tv and distribution circles. Watts has been mandated to create and develop programming and coproduction opportunities and acquire new characters and properties in Europe and the u.k.
The appointments follow Cinar’s successful closure of its first u.s. equity issue, with estimated net proceeds of $18.3 million. A total of 2.5 million voting shares, 2.2 million held by Cinar, were sold at a per share price of us$6.75. Subsequently an additional 375,000 shares were sold, which brought the net to just under $21.6 million.
For the first quarter of 1995 ending Feb. 28, the company reports a 30% revenue increase. Revenues were up to $8.6 million from $6.6 million for the same period last year. Net earnings were also up, 37% to $900,000. Per share earnings rose to $ 0.13 from $0.10.
* Steven Harris has resigned as president and coo of Montreal-based Malofilm Communications to pursue other interests. Rene Malo, chairman and ceo, temporarily takes over the president’s position.
* Todd Leavitt has been appointed chairman of Alliance International.