Canal Plus Plugs Leak

Along with Credit Lyonnais, Canal Plus is joining the French retreat from its Hollywood Waterloo. Canal Plus chairman Pierre Lescure and two representatives of the French pay TV giant, a major investor in Carolco Pictures, resigned from Carolco’s board of directors on March 10. Their resignations came in the wake of Carolco losses that took a $24 million bite from the French conglom’s 1994 bottom line.

Carolco said in a statement that the resignations of Richard Garzilli, Michael Meltzer and Lescure came as a result of the French pay TV giant’s decision “not to make any additional contributions to the debt or equity of Carolco.”

Canal Plus, through its affiliate Cinepole Prods. B.V., held a 17% share in the big-budget indie film company headed by Mario Kassar. who was executives producer of “Stargate,” the picture bankrolled by Canal Plus that, while a surprise hit, may cause Canal Plus as much as $7 million in red ink.

More Scene

  • Demi MooreComedy Central's Roast of Bruce

    Demi Moore Appears as Surprise Guest at Bruce Willis' Comedy Central Roast

    Along with Credit Lyonnais, Canal Plus is joining the French retreat from its Hollywood Waterloo. Canal Plus chairman Pierre Lescure and two representatives of the French pay TV giant, a major investor in Carolco Pictures, resigned from Carolco’s board of directors on March 10. Their resignations came in the wake of Carolco losses that took […]

  • Outfest Filmmakers Get Political, Issue Call

    Outfest Filmmakers Get Political, Issue Call to Action on Opening Night

    Along with Credit Lyonnais, Canal Plus is joining the French retreat from its Hollywood Waterloo. Canal Plus chairman Pierre Lescure and two representatives of the French pay TV giant, a major investor in Carolco Pictures, resigned from Carolco’s board of directors on March 10. Their resignations came in the wake of Carolco losses that took […]

  • Bob Woodruff Foundation Acquires Veterans Org

    Bob Woodruff Foundation Acquires Veterans Org Got Your 6

    Along with Credit Lyonnais, Canal Plus is joining the French retreat from its Hollywood Waterloo. Canal Plus chairman Pierre Lescure and two representatives of the French pay TV giant, a major investor in Carolco Pictures, resigned from Carolco’s board of directors on March 10. Their resignations came in the wake of Carolco losses that took […]

  • Tiffany HaddishTiffany Haddish at the Hollywood

    Tiffany Haddish on Future Career Plans, Taking Advice From Tyler Perry, Melissa McCarthy

    Along with Credit Lyonnais, Canal Plus is joining the French retreat from its Hollywood Waterloo. Canal Plus chairman Pierre Lescure and two representatives of the French pay TV giant, a major investor in Carolco Pictures, resigned from Carolco’s board of directors on March 10. Their resignations came in the wake of Carolco losses that took […]

  • Vince Gilligan Carolyn Strauss Paley Center

    'Breaking Bad' Creator Vince Gilligan Suggests 'Maybe It's Time for Heroes Again' on TV

    Along with Credit Lyonnais, Canal Plus is joining the French retreat from its Hollywood Waterloo. Canal Plus chairman Pierre Lescure and two representatives of the French pay TV giant, a major investor in Carolco Pictures, resigned from Carolco’s board of directors on March 10. Their resignations came in the wake of Carolco losses that took […]

  • Our Very Own Carlin McCullough

    Amanda Peet's New Play 'Our Very Own Carlin McCullough' Has a 'Game of Thrones' Connection

    Along with Credit Lyonnais, Canal Plus is joining the French retreat from its Hollywood Waterloo. Canal Plus chairman Pierre Lescure and two representatives of the French pay TV giant, a major investor in Carolco Pictures, resigned from Carolco’s board of directors on March 10. Their resignations came in the wake of Carolco losses that took […]

  • Shirel Kozak, Billy Crystal, Marina Zenovich,

    Billy Crystal, Filmmakers Remember Robin Williams at 'Come Inside My Mind' Premiere

    Along with Credit Lyonnais, Canal Plus is joining the French retreat from its Hollywood Waterloo. Canal Plus chairman Pierre Lescure and two representatives of the French pay TV giant, a major investor in Carolco Pictures, resigned from Carolco’s board of directors on March 10. Their resignations came in the wake of Carolco losses that took […]

More From Our Brands

Access exclusive content