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Non-Tech : MVEE; Entertainment - Action Films (formerly Golan-Globus)
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To: jacksoo who wrote (6)4/3/1998 8:34:00 PM
From: LPasko  Read Replies (3) of 49
 
Shhhhhh, Jacksoo, not so loud.

Yes, indeed, Cannon had a big rise, followed by a big fall. It ran into lots of financial trouble, and was eventually sued by the SEC over accounting irregularities.

Cannon was then "rescued" by the highly newsworthy Giancarlo Parretti, who settled the SEC charges, and arranged (If I recall correctly) for a sale of Cannon to MGM, and Globus was forced out. Golan and Globus have made numerous comeback attempts since then.

I guess the Cannon saga turned a lot of "paupers" into millionaires and then did just the reverse on the way down.

Don't mean to upset any apple carts, folks, just reporting what I remember of the facts. Hollywood is strange and weird and a few other things. Golan & Globus can pull it off yet again, who knows? Hey, look at Burt Reynolds!
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