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BUSINESS
May 24, 1989 | AL DELUGACH, Times Staff Writer
The Cannon name will rise again in Hollywood movie production after a brief departure. It is being reborn as Cannon Productions, which will be headed by Ovidio Assonitis, an Italian maker of English and foreign-language horror films. This Cannon is being fashioned from a corporate subsidiary owned by Los Angeles-based Pathe Communications, which until early April was named Cannon Group. Another Italian, Giancarlo Parretti, rescued Cannon from a financial crisis in 1987 and took control of the company last year from Menahem Golan and Yoram Globus.
BUSINESS
May 24, 1989 | AL DELUGACH, Times Staff Writer
The Cannon name will rise again in Hollywood movie production after a brief departure. It is being reborn as Cannon Productions, which will be headed by Ovidio Assonitis, an Italian maker of English and foreign-language horror films. This Cannon is being fashioned from a corporate subsidiary owned by Los Angeles-based Pathe Communications, which until early April was named Cannon Group. Another Italian, Giancarlo Parretti, rescued Cannon from a financial crisis in 1987 and took control of the company last year from Menahem Golan and Yoram Globus.
BUSINESS
February 28, 1989 | AL DELUGACH, Times Staff Writer
Italian financier Giancarlo Parretti's design for building a Hollywood movie empire moved forward Monday with the announcement that Menahem Golan has resigned as an executive of Cannon Group. Golan and Yoram Globus headed the Los Angeles-based film company from 1979 until the Parretti group took control last April. Golan will set up a new independent production company with about $160 million from Cannon under a four-year agreement, the company said.
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