Within a few weeks after severing their ties with Cineplex Odeon, Drabinsky and Gottlieb had organized Live Entertainment Corporation to produce Broadway-type shows in their hometown of Toronto. Drabinsky's concept for this new company, which he coaxed several large investors and lenders to bankroll, was to bring"corporate management" to the notoriously freewheeling and undisciplined show business industry. productions. Following a series of widely acclaimed the company-renamed Livent, Inc-went public in 1993.3 In May 1995. Livent filed an application with the Securities and Exchange Commission(SEC) to sell its stock in the United States. The SEC approved that application, and Livent's stock began trading on the NASDAQ stock exchange. Within two years. U.S. investors controlled the majority of Livent's outstanding stock.