June 21, 2006 |
Panavision Inc. said a board committee had approved an $8.50-a-share offer from controlling stockholder and co-Chairman Ronald Perelman for all of its publicly traded stock. The offer by Perelman's MacAndrews & Forbes Holdings Inc. marks an increase from $8 a share, Woodland Hills-based Panavision, a maker of movie cameras, said in a regulatory filing. Perelman controls 97% of the company, according to Bloomberg data, and Sony Corp. owns 714,300 shares, or 1.8%.
May 14, 2002 |
A judge rejected billionaire Ronald Perelman's proposed $14.75-million settlement of investor lawsuits over the sale of his stake in movie camera maker Panavision Inc. Delaware Chancery Court Judge Leo Strine ruled that the agreement shortchanged investors in Perelman-controlled licorice maker M&F Worldwide Corp. M&F's board bought Perelman's Panavision shares for $128 million in April 2001. Strine said the amount of the settlement wasn't enough to justify dropping the suits.
November 26, 1996
Panavision Inc., the Woodland Hills maker of motion picture camera systems, raised $59.5 million in its initial public offering. The company sold 3.5 million shares of common stock for $17 apiece, within its expected price range of $16 to $18 a share. In its first day of trading on the New York Stock Exchange on Thursday, Panavision's stock closed at $20 a share. Panavision plans to use the proceeds from the stock sale to repay debt, for working capital and general corporate purposes.
CALIFORNIA | LOCAL
February 20, 2001
Panavision Inc. of Woodland Hills reported a net loss of $2.3 million for the fourth quarter that ended Dec. 31, compared with a net loss of $85,000 for the same period the year before. Revenue was $56.3 million, compared with $55 million. For the year, the company reported a net loss of $23.6 million, compared with $16 million, and revenue of $204.6 million, compared with $202.8 million.
October 2, 2002 |
COURTS * M&F Worldwide Inc. won a judge's approval to settle a lawsuit challenging the fairness of the company's $128-million purchase of billionaire Ronald Perelman's stake in movie camera maker Panavision Inc. Licorice processor M&F and controlling director Perelman were sued in Delaware Chancery Court in 2000 by shareholders who said the financier was selling his 83% stake in Panavision to get rid of an under-performing investment.
April 25, 2006 |
Shares of Panavision Inc., a maker of movie cameras, more than doubled after co-Chairman Ronald O. Perelman offered to buy the portion of the company that he didn't already own. In a letter to Panavision's board, Perelman's MacAndrews & Forbes Holdings Inc. offered $8 a share in cash for Woodland Hills-based Panavision, the company said in a government filing.
September 2, 1998 |
Investor Ronald O. Perelman has announced top management changes at Woodland Hills-based motion picture camera firm Panavision Inc., two months after taking control of the company through his Mafco Holdings. Perelman, 55, will become chairman at the end of the year, while his close associate, Joseph P. Page, 44, will become chief executive this month. Perelman replaces 10-year Panavision Chairman William C. Scott, 64, who will retire and remain a consultant to the company.
December 19, 1997 |
Ronald Perelman's Mafco Holdings Inc. will become the controlling shareholder of motion-picture camera maker Panavision Inc., based in Woodland Hills, when Warburg, Pincus Capital Co. sells its stake in the investment. Under the agreement, Panavision shareholders will swap as much as 88% of their individual holdings for $27 a share in cash, and venture capital firm Warburg Pincus will swap 88% of its shares for $26.50 a share in cash and vote all its shares in favor of the transaction.
April 3, 2003 |
Panavision Inc., the leading provider of cameras and lenses to Hollywood, said Wednesday that it named Technicolor Inc. executive Robert Beitcher as its president, effective April 14. Panavision, based in Woodland Hills, is 84% owned by billionaire financier Ronald O. Perelman, who remains its chairman and chief executive. Beitcher, 48, succeeds John Farrand, who resigned in January amid efforts by Panavision to overcome financial losses caused mainly by a heavy debt load.
CALIFORNIA | LOCAL
August 10, 1999
Panavision Inc., Woodland Hills, reported a net loss of $7.7 million for the second quarter ended June 30, compared with a $56.6 million loss for the like quarter last year. Revenues were $47.2 million, up from $46 million last year. Panavision, the world's leading supplier of precision movie cameras, has been losing money for the last five quarters. The downturn in feature film production this year has definitely hurt the company, said Joe Page, chief administrative officer.