Commonwealth of Nations
The Commonwealth comprises 53 countries, across all continents. The members have a combined population of 2.4 billion people, almost a third of the world population, of which 1.26 billion live in India, 220 million live in Pakistan and 94% live in Asia and Africa combined. After India, the next-largest Commonwealth countries by population are Pakistan (220 million ), Nigeria (170 million), Bangladesh (156 million), and the United Kingdom (65 million). Tuvalu is the smallest member, with about 10,000 people.
Commonwealth Theaters
Film production company Cannon Group announced in 1986 that it had agreed to purchase Commonwealth for $25 million in cash plus the assumption of $50 to $60 million in debt. At this time, Commonwealth was the sixth-largest theater chain in the country, comprising 425 screens in 12 states, with plans to open 70 more screens that year. Within six months, Cannon ran into serious financial problems. These problems led to Renta Immobiliarla S.A., a Spanish-based group, acquiring a significant stake in Cannon, and Cannon put Commonwealth up for sale. Renta subsequently acquired complete control of Commonwealth in January 1988. One month later, Renta announced the formation of a joint venture with United_Artists_Communications, a theater chain then controlled by Tele-Communications Inc. Under the terms of the joint venture, each party would control 50% of Commonwealth. Later press reports characterize the transfer of ownership as a purchase by United Artists, rather than a joint venture.