Montreal: Distressed securities specialist Chapman Capital L.L.C. of Los Angeles has acquired close to one million Class B shares of Cinar at US$2.34 a share. The investment gives the U.S. securities specialist an estimated 2% of the 41 million Cinar shares issued and outstanding. Robert L. Chapman Jr., managing member, known in the U.S. investment community as a ‘corporate raider’ and ‘stock activist,’ says the ‘strategic block’ of shares will be used ‘to pressure Cinar management to get a deal done, and we’re going to see a very combative situation, a war over the money.’
Chapman is projecting an ultimate Cinar selling price ‘in the mid to high single-digit range’ per share. Or somewhere between US$200 million ($313 million) and US$360 million ($564 million).

Halifax: It’s a quiet September day on the campus of Halifax’s Dalhousie University, but its popular female dormitory, Shirreff Hall, is bustling with equipment trucks blocking the drive, crew members frantically running in and out of the building’s front door and confused students trying to figure out why it is so difficult to get to the cafeteria for dinner.
While most students are genuinely oblivious to what is going on, one man is looking very much at ease in a brown leather jacket, two cameras slung over his shoulder. He wanders around, chats on his cell phone from time to time, and takes pictures. He is actor Colm Feore, and he is looking eerily similar to the man he is portraying on this day and the many days to follow. He has the daunting task of playing Pierre Elliot Trudeau in the first biographical miniseries ever produced on the late prime minister.

Vancouver: B.C. Premier Gordon Campbell, already spearheading a Core Services Review, announced late last month that the cost of government will be cut by an average 35% by 2005 – a prospect that has industries across the province bracing for layoffs, service reductions and program eliminations.
In practice, it means that all government ministries, except for those overseeing health and education, must cut spending by 20% and 50% over the next three years.
For the domestic film and television industry specifically, the budget-slashing means that funding agency B.C. Film, marketer B.C. Film Commission, the domestic tax credit, the production services tax credit, Bridge Studios, the B.C. Arts Council, sponsorships for programs such as the Vancouver International Film Festival, the talent agent registry, apprenticeships, occupational health and safety programs, training and the Knowledge Network, among other relevant spending initiatives are in question.

CTV to revise CFCF benefits

Between the time that I’m writing this editorial – that is on Monday afternoon Thanksgiving Day – and the time that this paper hits the street, news related to our economy and the state of world warfare will likely change, maybe even more than once. Certainly the second cancellation of the Emmy Awards was an unexpected twist to a story that seemed, at least until Saturday’s bombing of Afghanistan, to be losing some of its incisive news appeal. And of course while CBS is claiming it rolled up the red carpet because ‘Hollywood felt uncomfortable about celebrating at this time,’ the decision also came just days after word was leaked that the next terrorist attacks would be targeted at U.S. military and entertainment centres.

In the Oct. 1 On the Spot,

Cannes, France: Unlike a number of major players in the U.S. and Europe who are reporting reduced children’s production slates for 2001, Nelvana co-CEO Michael Hirsh says the Toronto toonco is projecting 15% to 20% growth over last year.

Cannes, France: MIPCOM represents three distinct but simultaneous sales and coproduction markets for Alliance Atlantis Communications.

* Veteran broadcasting executive Len Cochrane has been appointed to replace John Riley as the new president of Teletoon.

Nelvana cofounder and animation maverick Clive Smith surprised the industry last week with his resignation from the toon studio he helped build with Michael Hirsh and Patrick Loubert.

Montreal: The Reseau TVA crime drama Fortier (Aetios Productions) edged out four high-profile competitors to win this year’s Prix Gemeaux for best dramatic series. Scripted and produced by the prolific Fabienne Larouche, Fortier was nominated in a record 15 categories, coming away with three Gemeaux, including best supporting actor wins for Francois Papineau and Michele-Barbara Pelletier.

Vancouver: Late last month, Vancouver’s City Council unanimously passed a proposal to create space dedicated to Vancouver’s domestic production community – thanks in large part to the efforts of the Vancouver International Film Festival Society and the city’s cultural planning department.
The 13,700-square-foot Vancouver International Film Centre on Seymour Street (across the alley from the new Scotiabank Dance Centre) will feature a 170-seat multimedia screening room that will be able to accommodate a variety of formats.
‘The whole spirit of the facility is forward-looking,’ says Vancouver International Film Festival director Alan Franey. ‘We want to become known as a space for independent Canadian production and art cinema.’