Financial Briefs

Atlantis Communications Inc., an independent television producer in Canada, filed a prospectus in Ontario for an offering of 2,514,929 subordinate voting shares at C$ 14.50 ($ 10.97) a share. Net proceeds, roughly C$ 30 million ($ 22. 7 million), will be used to increase program development, finance further acquisitions of distribution rights and develop or acquire related businesses.

* * *

The New York Times Co. expects its annual operating profit for its broadcasting and information services group to be $ 19 million to $ 21 million this year, up from $ 15 million in 1992. In a press release outlining the company’s earnings expectations, New York Times said it will take a charge in its fourth-quarter earnings of $ 4.5 million, or 3 cents a share.

* * *

Time Warner Cable vice chairman James L. Gray will leave the company at the end of the 1994 first quarter. Gray has been vice chairman since last August, following the consolidation of the managements of Warner Cable Communications, of which he had been president since 1986, and American Television & Communications Corp.

* * *

Media General Inc. said it plans to deliver electronic services on the Prodigy network and that its Tampa Tribune, Richmond Times-Dispatch and Winston-Salem Journal newspapers are considering offering the services. Separately, Advertising Age said it began an interactive news and information service on Prodigy.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety