Cannon Agrees to Amended Paretti Deal: Cannon...

Cannon Agrees to Amended Paretti Deal: Cannon Pictures, which had been promised financing from Comfinance S.A., a company owned by Giancarlo Paretti, said it has canceled that obligation in favor of an amended deal requiring Paretti to guarantee bank credit lines of $50 million. Cannon Pictures’ parent company, 21st Century Distribution Corp., said it will now distribute its own films in the United States while another Paretti-controlled company, Pathe Communications Corp., serves as its sales agent worldwide. Cannon also acquired certain motion picture properties, including sequel rights to “Delta Force” and “American Ninja.”