AA drops Loewy, Theroux; movie distribution unit could lose big supplier

TORONTO – Alliance Atlantis' Movie Distribution Income Fund announced this morning that it has let chairman Victor Loewy and CEO Patrice Theroux go. No reasons were given but a company statement said: "The Motion Picture Distribution Board concluded a management change was necessary and in the best interest of MPDI." John Bailey, a member of the board of directors, has been installed as interim CEO of the Motion Picture Distribution partnership. AA CFO David Lazzarato will be acting board chairman. Perhaps most distressing for the distribution company is that a contract with a "principal supplier" says it can walk away...