Motion Picture Distribution earns $4.4 million in Q1, but retains significant debt

TORONTO – Motion Picture Distribution LP, which is majority owned by Alliance Atlantis Communications, recorded a profit of $4.4 million in the first quarter ended March 31, compared to $5.2 million in the same quarter a year earlier, according to financial results released Wednesday. Higher revenues from its library and from its theatrical operations in Europe and Spain resulted in Motion Picture’s consolidated revenue rising $7.2 million to $110 in the quarter compared to the previous year. Motion Picture CEO John Bailey said the significantly improved theatrical market share in the UK and Spain should translate to strong performances in the...