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Atlantis seeks to go public

Atlantis Communications is the latest Canadian production company to announce that it will go public. Toronto-based Atlantis, one of Canada’s leading television production and distribution companies, has filed a preliminary prospectus related to offering public shares and it hopes to be listed on the Toronto Stock Exchange by mid-December.

Three of Canada’s top film and TV players — Alliance Communications, Paragon Entertainment and Cinar Films — have gone public in the past few months.

The public stake will be roughly 30% and the four Atlantis principals — president Michael MacMillan and executive VPs Seaton McLean, Ted Riley and Peter Sussman — will continue to operate and control the company after the share issue.

Atlantis sold a minority interest earlier this year to the Interpublic Group of Companies and Paul Talbot of Fremantle Corp., and both will retain their stake in Atlantis. The Interpublic Group has a 19.99% stake and Talbot has 5%.

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