Home > Movies > The Weinstein Company Makes A Last Minute Deal With Goldman Sachs To Avoid Bankruptcy

The Weinstein Company Makes A Last Minute Deal With Goldman Sachs To Avoid Bankruptcy

The Weinstein Company spent most of last year on the verge of bankruptcy and got no relief with a string of high profile flops on their release schedule that included Nine and Rob Zombie‘s Halloween II.  The struggling studio, which brothers Harvey and Bob Weinstein first formed in 1979 under the Miramax label, has struck a deal with Goldman Sachs that will transfer ownership of over 200 movie titles to the company and another insurance company. Despite the loss of ownership, the studio will retain the rights to their most prized possessions; Inglorious Basterds, Pulp Fiction and the Scream franchise, which is being rebooted with a fourth film scheduled to be released next year. The Weinstein’s attourney Betram Fields said Thursday:

It’s a big win for both sides. I’ve seen a lot of restructuring deals and usually someone gets the short end of the stick. This time both sides get the long end of the stick.

[Reuters]

Categories: Movies
  1. No comments yet.
  1. No trackbacks yet.