Going public gives Atlantis freedom to grow.

The history of Atlantis Communications aptly illustrates how tiny acorns can grow into mighty oaks.

What began as a small film venture by three Canadian students about 15 years ago has turned into a large international enterprise with head offices in Toronto, and branches in Syndney, London, Amsterdam and Los Angeles. Their production arm is called Atlantis Films and the sales division is Atlantis Releasing. The group, which employs 60 people, also supplies finance and production facilities to other independent producers.

This year, as Atlantis Films Limited will become a publicly quoted company, a 30 per cent stake is scheduled to be sold to potential investors. That would still leave a majority share for its current partners: Michael MacMillan, Seaton McLean, Ted Riley and Peter Sussman.

Minority shareholder ECTelevision, a subsidiary of U.S. media giant Interpublic Group of Companies, is expected to increase its stake to just under 20 per cent. Freemantle Corp., in the U.S., is Atlantis' exclusive distributor in Latin America 

To further establish its credentials in the global TV and film world, the company appointed Kevin Shea in November to be its president and chief operating officer.

Going public is core to Atlantis' future strategy. It wants to be less dependent on Canadian government funds.

Atlantis' library comprises more than 300 TV programs and films. It has clinched more than 125 international awards, including an Oscar. Prize-winning products include The Ray Bradbury Theater, which has picked up the Cable ACE Award for Best Dramatic Series twice; Boys and Girls won an Academy Award for Short Live Action; and Lost In The Barrens, was chosen for a Daytime Emmy Award.

Last year it applied to the Canadian broadcast regulatory body, CRTC, for a new Canadian specialty channel, You: Your Channel, a lifestyle service to be launched this fall, should Atlantis win its bid. It will be operated through Atlantis Communications, which owns more than 80 per cent of the proposed network. EC Communications, which owns EC Television, will be the minority partner in YOU.

Additionally, Atlantis has invested more than C$80 million into new productions of TV films and series.

Atlantis is now focusing its attention on the U.S. The production arm is in Los Angeles, from where it works regularly with U.S. broadcasters. Ted Riley, Atlantis Releasing's president, said that revenue from foreign distribution has increased 300 per cent in less than five years. Opening a European office in Amsterdam has also helped bolster sales. The next target for Atlantis is the Asia-Pacific markets through its Sydney office.