AAC lets go top echelon, staff

Company cleaning house after takeover

Now that the C$2.3 billion ($2.2 billion) takeover of Alliance Atlantis by Goldman Sachs and CanWest Global Communications has closed, the axe is coming down, and hard.

Long-time senior executives including Atlantis co-founders Michael MacMillan, and Ted Riley, CEO Phyllis Yaffe, chief operating officer Dave Lazzarato and executive VP and general counsel Andrea Wood have either ankled or stepped down to act as advisers.

The company is being broken up, with Goldman Sachs taking over the entertainment division, which includes its TV distribution library of about 1,000 titles and its 50% interest in “CSI,” although Goldman Sachs says there are no plans to sell these assets.

Goldman Sachs is shuttering the division, including its offices in Dublin, London, Sydney, Los Angeles and Toronto, and pinkslipping about 70 employees between now and early 2008. The fate of the Motion Picture Distribution division, Canada’s largest film distrib, with interests in the U.K. and Spain, is less clear. The division is held by Goldman Sachs and Canadian partner EdgeStone Capital Partners, and the group is awaiting approval of the deal by Heritage Canada, which dictates that it must remain under Canadian control.

Rumor has it that fiery distribution executive (and Alliance co-founder) Victor Loewy is poised to take over the executive suite. Former Weinstein Co. executive Charles Layton has also been spotted at the MPD corporate office, and observers expect that he too will take an active role at the company.

More Scene

  • Esquire 'Mavericks of Hollywood' party

    Terry Crews on His Sexual Assault Lawsuit: 'If I Don’t Get Justice, Nobody Can'

    Now that the C$2.3 billion ($2.2 billion) takeover of Alliance Atlantis by Goldman Sachs and CanWest Global Communications has closed, the axe is coming down, and hard. Long-time senior executives including Atlantis co-founders Michael MacMillan, and Ted Riley, CEO Phyllis Yaffe, chief operating officer Dave Lazzarato and executive VP and general counsel Andrea Wood have […]

  • 20th Annual Costume Designers Guild Awards

    'I, Tonya,' 'The Shape of Water' Win at 2018 Costume Designers Guild Awards

    Now that the C$2.3 billion ($2.2 billion) takeover of Alliance Atlantis by Goldman Sachs and CanWest Global Communications has closed, the axe is coming down, and hard. Long-time senior executives including Atlantis co-founders Michael MacMillan, and Ted Riley, CEO Phyllis Yaffe, chief operating officer Dave Lazzarato and executive VP and general counsel Andrea Wood have […]

  • 'Atlanta' TV show premiere

    'Atlanta Robbin' Season' Will 'Show What Makes the City Tick,' Producer Says

    Now that the C$2.3 billion ($2.2 billion) takeover of Alliance Atlantis by Goldman Sachs and CanWest Global Communications has closed, the axe is coming down, and hard. Long-time senior executives including Atlantis co-founders Michael MacMillan, and Ted Riley, CEO Phyllis Yaffe, chief operating officer Dave Lazzarato and executive VP and general counsel Andrea Wood have […]

  • Mr Chow 50th Anniversary celebration

    Mr. Chow 50th Anniversary Party Draws Stevie Wonder, Heidi Klum & More Stars

    Now that the C$2.3 billion ($2.2 billion) takeover of Alliance Atlantis by Goldman Sachs and CanWest Global Communications has closed, the axe is coming down, and hard. Long-time senior executives including Atlantis co-founders Michael MacMillan, and Ted Riley, CEO Phyllis Yaffe, chief operating officer Dave Lazzarato and executive VP and general counsel Andrea Wood have […]

  • Paley Center for Media presents They

    African-American Showrunners Talk Strides in TV Representation

    Now that the C$2.3 billion ($2.2 billion) takeover of Alliance Atlantis by Goldman Sachs and CanWest Global Communications has closed, the axe is coming down, and hard. Long-time senior executives including Atlantis co-founders Michael MacMillan, and Ted Riley, CEO Phyllis Yaffe, chief operating officer Dave Lazzarato and executive VP and general counsel Andrea Wood have […]

  • 'Annihilation' film premiere

    'Annihilation' Star Jennifer Jason Leigh Responds to Whitewashing Accusations

    Now that the C$2.3 billion ($2.2 billion) takeover of Alliance Atlantis by Goldman Sachs and CanWest Global Communications has closed, the axe is coming down, and hard. Long-time senior executives including Atlantis co-founders Michael MacMillan, and Ted Riley, CEO Phyllis Yaffe, chief operating officer Dave Lazzarato and executive VP and general counsel Andrea Wood have […]

More From Our Brands

Access exclusive content