Cannon Pictures Deal Collapses: An agreement for...

Cannon Pictures Deal Collapses: An agreement for Pathe Communications Co. to sell its controlling stake in Cannon Pictures to a Dutch production firm has collapsed, leaving the embattled studio without another sliver of financing to complete its merger with MGM/UA Communications Corp. Pathe announced last month that it would sell its 60% stake in Cannon for $15 million to Trihoof Investments B.V. Trihoof President Ovidio Assonitis already owned 20% of Cannon and had served as its chairman since last year. Cannon, which offered no explanation or elaboration on the collapse, said it had severed its relationship with Assonitis and Vice Chairman William Immerman.