Despite rapid growth, the Atlantis Communications Inc. share price had fallen substantially since its initial public offering. Lewis N. Rose  joined to help turn the company around, and was subsequently named President and a Director.

The company was facing increasing global competition. It needed a long-term strategy for sustainable and profitable growth , as well as an infrastructure capable of accommodating a growing international business. The decline in the share price reflected the investment community's skepticism that the company would be able to continue to grow profitably. Lewis and the team established a professional management culture with accountability within an entrepreneurial and creative environment; developed a clear strategic plan to focus on recurring revenue, focus on the higher margin broadcast channel business, and concentrate on fewer, larger projects with more certainty of cash flows before commencement of production. The Company was able to secure more than $100 million in operating agreements with international distributors, provided more transparency to the investment community, and eventually acquired and launched new specialty cable channels, including introducing Canadian versions of successful US specialty channels.

The stock price sustained a 100 percent increase over a 3-year period, and the company merged with the largest television and motion picture production company in Canada ( Alliance Communications) with the management of the original (smaller) company ( Atlantis Communications) responsible for running the larger combined business (which became known as Alliance Atlantis Communications Inc.). Lewis and his team eventually completed the largest entertainment financing in Canadian history at that time ($545 million) to facilitate the merger, and the market capitalization of the company increased to more than $600 million from $60 million. Alliance Atlantis was subsequently acquired by CanWest Global and Goldman Sachs in 2007 for $2.3 billion.