AAC fund takes $174 mil

No. 1 Canadian distrib sees successful IPO

MONTREAL — Canadian film company Alliance Atlantis Communications announced Wednesday it has completed an initial public offering for its Movie Distribution Income Fund, generating gross proceeds of approximately C$231 million ($174 million).

Through the income trust, Alliance Atlantis is selling a 43% stake in its distribution biz. The underwriters also have an option to purchase an extra 2.33 million trust units or an additional 6%. Alliance Atlantis will retain control of the distrib with at least a 51% interest.

Alliance Atlantis was the No. 1 distributor in Canada last year, out-performing all the Hollywood studios, with a market share of 19%. It has long-term output deals with several U.S. film distributors including New Line and Miramax.

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:

WordPress.com Logo

You are commenting using your WordPress.com 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 Scene News from Variety