Cineplex Odeon Seeks Shareholder Help: Two of...
From Times Staff and Wire Reports
Cineplex Odeon Seeks Shareholder Help: Two of the major shareholders in the troubled Cineplex Odeon Corp. may be asked to pay as much as $50 million each to reduce the company’s debt. MCA Inc. and Claridge Investments & Co. could be called upon to put up the $100 million if Cineplex Odeon is unable to meet its bankers’ requirements to sell $200 million in assets by year-end. In a filing with the Securities and Exchange Commission, Cineplex said it would pay the companies a fee as high as $1 million each for entering into the agreement.