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Corporate shakeups continue at Salter Street Films’ new media subsidiary

News | 05/31/2000 4:00 am EDT

Salter Street Films Ltd appears to have shelved plans to publicly trade its new media division – at least for the time being. Following several quarters of disappointing financial results and last November's collapse of a reverse takeover deal (CNM, December 23/99), the Halifax-based production house has decided to up its ownership in Salter New Media Ltd (SNM) from 38.7 per cent to 98 per cent. The company also announced May 18 that it was spinning off a new company (1391408 Ontario Inc) that will use auction technology from SNM's Bargoon.com web site to develop a new business-to-business application.

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