The Weinstein Co. is reviving its attempts to sell itself or the bulk of its film and television assets, Variety has learned. But the clock is ticking. The company was on the verge of bankruptcy last week, but after selling domestic distribution rights to “Paddington 2” in a $28 million deal with Warner Bros. it has bought itself some time. With the money, it now has enough cash to meet its payroll obligations, but it doesn’t have as much of a financial cushion as it would seem. That’s because The Weinstein Co. only receives a percentage of the money. Canal Plus, the film’s producer, picks up $20 million, while the Weinstein Co. gets the remaining $8 million.
The indie studio has been hit hard by a sexual harassment scandal involving co-founder Harvey Weinstein. It has already borrowed hundreds of millions against its film and TV library and now is grappling with the fact that its brand has become...
The indie studio has been hit hard by a sexual harassment scandal involving co-founder Harvey Weinstein. It has already borrowed hundreds of millions against its film and TV library and now is grappling with the fact that its brand has become...
- 11/18/2017
- by Brent Lang, Cynthia Littleton and Gene Maddaus
- Variety - Film News
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