June 9, 1987 |
Interpart, a Luxembourg company that agreed last week to help financially troubled Cannon Group, disclosed Monday that a key officer has been accused of criminal wrongdoing in financial dealings in his native Italy.
March 25, 1988 |
Cannon Group, the ailing Hollywood film producer, acknowledged Thursday that it is working with its major European stockholders on "various equity and management proposals" but said no final agreements have been reached. The announcement comes a day after a public filing by Comfinance SA and its affiliates stating that they might try to obtain control of Cannon. They hold a 39.4% interest in the movie firm, which also operates theaters in Britain.
March 24, 1988 |
European financial backers of Cannon Group have given public notice that they may try "to obtain control" of the troubled Hollywood film maker. In several parts of a new filing with the Securities and Exchange Commission, the Europeans imply that there may be friction between them and Cannon's longtime top executives, Menahem Golan and Yoram Globus. The filing also reported structural changes in the Italian-Dutch-Spanish-Luxembourg group.
September 20, 2000 |
Among the companies going for gold at the Olympic Games underway in Sydney, Australia, this week is Biocorp of Redondo Beach. The $4-million company is supplying biodegradable straws, cutlery and drinking cups for the two-week event in a high-profile test of Biocorp's products. Made from corn and potato resins, Biocorp's utensils are three times more expensive than plastic dinnerware.
November 10, 1987 |
A 14-month investigation into the financial affairs of Cannon Group ended Monday when the entertainment company and three current or former Cannon officials agreed to a settlement with the Securities and Exchange Commission. Among its sweeping allegations, the SEC said Cannon misstated pretax earnings from 1982 through the first half of 1986, using those figures to raise $339 million from the public between October, 1983, and April, 1986.
December 9, 1987 |
Cannon Group will be blended into a collection of European tourism, banking, hotel and real estate interests under a proposed reorganization unveiled Tuesday. The conglomerate would include affiliates of Interpart S.A. of Luxembourg, which owns 40% of Cannon. Since last June, Interpart has made huge cash infusions in the battered Los Angeles movie producer and theater owner. The new entity is to be called Cannon-Melia Group.