Cannon Group reported a $21.6-million net loss...

Cannon Group reported a $21.6-million net loss for the third quarter, despite a $14.2-million gain on sales of some assets, compared to a net loss of $19.4 million for the year-ago period. Although the Los Angeles film company reported profits in its first two quarters, the third quarter resulted in a nine-month net loss of $3.9 million. In 1987, before Giancarlo Parretti of Italy acquired control of Cannon, the company had a total net loss of $98.3 million.

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