Weinsteins Find Money, Scrap Lemonade Stand Plans
Yay! No Weinstein Co. car wash this weekend! (Photo: STV) Insert huge sigh of relief here: You can forget all that cynical chatter about the fledgling Weinstein Company starting its new era with a quartet of empty pockets. Bloomberg reports today that the former Miramax chieftains Bob and Harvey have lined up more than $230 million dollars in equity from a group of 18 investors, with another $190 million possibly pouring in from Wall Street as early as next week. Sure it took five months, and sure the total raised is less than half of what the Weinstein had hoped to start their new lives with. However, a $500 million line of credit may still be in the works, and King Harvey wants you to know he is not sweating this shit one little bit: "I'm optimistic about our slate of films, our business plan and the reaction to it," Harvey Weinstein, 53, said in an interview. He wouldn't comment further. Thank you, Harvey. Anyway, that slate of films—as you have heard about a zillion times here and elsewhere—comprises 13 pictures over the next 15 months, including the upcoming Derailed, The Matador and Transamerica. Bloomberg adds the Weinsteins have Goldman Sachs on the case to square away the rest of their skrilla. Oh, and while we know the sun rises and sets on Harvey's Tribeca throne, indieWIRE guru Eugene Hernandez reports that the Weinsteins are not the only players making headlines in NYC: Former Miramax exec Tory Tunnell is joining Will Battersby, Jacob Kornbluth and Stelio Kitrilakis to form Safe House Pictures. But they have funding in place, it appears, which is so much unsexier than the Weinsteins starting the most hyped indie since DreamWorks without any money (unless you really want to call that fabled library of shelved films an "asset"). But whatever—best of luck to everybody involved. Posted by stvanairsdale on Oct 6, 2005 at 08:59AM |
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