Canadian production company Alliance Atlantis Communications is being broken up following its acquisition by CanWest Global Communications and Goldman Sachs for $2.17 billion.
According to a report on KidScreen, the entire entertainment division is being closed down: this includes its 50 per cent interest in the CSI franchise and its television library, which houses kids' series such as Lunar Jim and Dragon Boosters.
Offices in Dublin, London, Sydney, Los Angeles and Toronto are being closed and approximately 70 staff members worldwide will be made redundant between now and January 2008. Licensing for the firm's TV library of around 1,000 titles is in the process of being outsourced.
KidScreen goes on to report that Goldman Sachs now controls the entertainment division. The administration of the CSI assets was handed over to co-owner CBS around the time the deal was announced in January. Goldman Sachs apparently has no plans to sell CSI or the other library properties, including the kids titles.
"We like intellectual property and we like buying rights and developing them," said Gerry Cardinale, Goldman Sachs' managing director of media and entertainment investing.