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Alliance Atlantis records dip in first quarter profit

Alliance Atlantis Communications recorded a lower first quarter profit due to weaker results in its broadcast division. In a statement the company said that while its first fiscal quarter is historically its most modest, this was compounded by severance payments for the 37 full-time positions cut earlier in the year, as well as a $1.9m (C$3m) production financing non-fulfilment payment to Robert Lantos's Serendipity Point Pictures.

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