CANADIENS LOSE MORE THAN GAMES AS NO PLAYOFFS HURT EARNINGS

          The Molson Companies sports and entertainment division,
     which owns the Canadiens and the Molson Centre, reported
     yesterday that it had an operating loss of C$3.8M last year,
     compared with a profit of C$2.9M in '97, according to Paul
     Delean of the Montreal GAZETTE.  Molson attributed the loss
     to higher player salaries and foreign-exchange costs. 
     Molson's sports division generated revenues of C$157.3M
     during the fiscal year ended March 31, which compares to
     sales of C$134M from the previous year.  Molson Exec VP &
     CFO Pat Crowley admitted the Canadiens are "not providing an
     adequate return to shareholders," but said that recent
     rumors that the team is for sale are "unfounded."  Crowley
     added that Molson is working on a "strategic-asset plan" to
     improve the team's earnings  (Montreal GAZETTE, 5/13).