Community hub
Recent from talks
Knowledge base stats:
Talk channels stats:
Members stats:
The Weinstein Company
The Weinstein Company, LLC (usually credited or abbreviated as TWC) was an American independent film production and distribution company, which was founded in New York City by Bob and Harvey Weinstein on March 10, 2005. TWC was one of the largest mini-major film studios in North America. However, the firing of Harvey Weinstein following allegations of sexual harassment and rape against him, as well as financial troubles that followed, led to the company's decline. The studio eventually declared bankruptcy in February 2018, with independent studio Lantern Entertainment acquiring a majority of its film library and assets. Co-founder and chief executive Bob Weinstein previously owned a small stake in the company.
The company fired joint founder and chief executive Harvey Weinstein in October 2017, after more than 100 women accused him of sexual harassment, abuse, assault, and rape.
On February 26, 2018, the Weinstein Company announced in a statement that it would declare bankruptcy following the collapse of a buyout deal with an investor group led by Maria Contreras-Sweet. However, the TWC board and the investor group confirmed on March 1, 2018, that they had reached a deal in which TWC would sell all of its assets for US$500 million. On March 6, 2018, the acquisition deal collapsed again after the studio had an extra debt of US$50 million revealed. The company filed for Chapter 11 bankruptcy on March 19, 2018. The company filed for liquidation, and on May 1, 2018, Lantern Capital emerged as the winner of the studio's bankruptcy auction and liquidation sale.
The Weinstein Company was founded on March 10, 2005, and officially launched that October, following the departure of Harvey and Bob Weinstein from Miramax Films, which they had co-founded in 1979, and sold to the Walt Disney Company on June 30, 1993. The Weinsteins retained ownership of the Dimension Films label. Their first releases in 2005 included the dramatic thriller Derailed (starring Jennifer Aniston, Vincent Cassel and Clive Owen), the offbeat comedy-drama Transamerica (starring Felicity Huffman) the animated family film Hoodwinked, the World War II–era comedy-drama Mrs Henderson Presents (starring Judi Dench and Bob Hoskins), and the caper comedy The Matador (starring Pierce Brosnan and Greg Kinnear).[citation needed]
In February 2006, TWC announced a distribution pact with Metro-Goldwyn-Mayer (MGM). MGM distributed the product domestically in theatres, while TWC retained long-term ownership of their product. On July 13, 2006, the Weinsteins and Robert L. Johnson announced the creation of a joint venture studio titled Our Stories Films, which distributed African-American-oriented films. On November 17, 2006, TWC announced a three-year deal with Blockbuster Video to give Blockbuster exclusive rights for rentals starting on January 1, 2007. However, under the First Sale Doctrine of United States copyright law, other rental companies are able to rent copies of the company's movies purchased at retail.
TWC is the co-producer, along with Miramax, of the Lifetime reality series Project Runway, which for its first five seasons aired on Bravo. The series won a Peabody Award in 2007. On May 23, 2007, TWC announced the launch of three new direct-to-video labels: the Miriam Collection, Kaleidoscope TWC, and Dimension Extreme.
On February 8, 2008, TWC launched a distributor, Third Rail Releasing, that released films aimed mainly at the home video market. On September 25, 2008, TWC ended its three-year distribution pact with MGM three months before the December 31 end date. This happened in part because TWC had struck a television output deal with Showtime, though not through MGM's output deal with them. During the span of their pact, TWC paid for marketing and prints, while MGM received a distribution fee for booking theatres.
On June 5, 2009, TWC announced the hiring of a financial adviser to restructure the finances of the company. After July 2009, many layoffs occurred at TWC, and the release dates of some films were pushed back. On September 14, 2009, TWC sold its stake in Genius Products, which served as TWC's home video distributor from 2006 to 2009. Genius, however, had announced to exit the home video distribution business and the DVD rights that were distributed by Genius were sold to Vivendi Entertainment. TWC also struck a deal with Vivendi. The same year, it won a Peabody Award for The No. 1 Ladies' Detective Agency.
Hub AI
The Weinstein Company AI simulator
(@The Weinstein Company_simulator)
The Weinstein Company
The Weinstein Company, LLC (usually credited or abbreviated as TWC) was an American independent film production and distribution company, which was founded in New York City by Bob and Harvey Weinstein on March 10, 2005. TWC was one of the largest mini-major film studios in North America. However, the firing of Harvey Weinstein following allegations of sexual harassment and rape against him, as well as financial troubles that followed, led to the company's decline. The studio eventually declared bankruptcy in February 2018, with independent studio Lantern Entertainment acquiring a majority of its film library and assets. Co-founder and chief executive Bob Weinstein previously owned a small stake in the company.
The company fired joint founder and chief executive Harvey Weinstein in October 2017, after more than 100 women accused him of sexual harassment, abuse, assault, and rape.
On February 26, 2018, the Weinstein Company announced in a statement that it would declare bankruptcy following the collapse of a buyout deal with an investor group led by Maria Contreras-Sweet. However, the TWC board and the investor group confirmed on March 1, 2018, that they had reached a deal in which TWC would sell all of its assets for US$500 million. On March 6, 2018, the acquisition deal collapsed again after the studio had an extra debt of US$50 million revealed. The company filed for Chapter 11 bankruptcy on March 19, 2018. The company filed for liquidation, and on May 1, 2018, Lantern Capital emerged as the winner of the studio's bankruptcy auction and liquidation sale.
The Weinstein Company was founded on March 10, 2005, and officially launched that October, following the departure of Harvey and Bob Weinstein from Miramax Films, which they had co-founded in 1979, and sold to the Walt Disney Company on June 30, 1993. The Weinsteins retained ownership of the Dimension Films label. Their first releases in 2005 included the dramatic thriller Derailed (starring Jennifer Aniston, Vincent Cassel and Clive Owen), the offbeat comedy-drama Transamerica (starring Felicity Huffman) the animated family film Hoodwinked, the World War II–era comedy-drama Mrs Henderson Presents (starring Judi Dench and Bob Hoskins), and the caper comedy The Matador (starring Pierce Brosnan and Greg Kinnear).[citation needed]
In February 2006, TWC announced a distribution pact with Metro-Goldwyn-Mayer (MGM). MGM distributed the product domestically in theatres, while TWC retained long-term ownership of their product. On July 13, 2006, the Weinsteins and Robert L. Johnson announced the creation of a joint venture studio titled Our Stories Films, which distributed African-American-oriented films. On November 17, 2006, TWC announced a three-year deal with Blockbuster Video to give Blockbuster exclusive rights for rentals starting on January 1, 2007. However, under the First Sale Doctrine of United States copyright law, other rental companies are able to rent copies of the company's movies purchased at retail.
TWC is the co-producer, along with Miramax, of the Lifetime reality series Project Runway, which for its first five seasons aired on Bravo. The series won a Peabody Award in 2007. On May 23, 2007, TWC announced the launch of three new direct-to-video labels: the Miriam Collection, Kaleidoscope TWC, and Dimension Extreme.
On February 8, 2008, TWC launched a distributor, Third Rail Releasing, that released films aimed mainly at the home video market. On September 25, 2008, TWC ended its three-year distribution pact with MGM three months before the December 31 end date. This happened in part because TWC had struck a television output deal with Showtime, though not through MGM's output deal with them. During the span of their pact, TWC paid for marketing and prints, while MGM received a distribution fee for booking theatres.
On June 5, 2009, TWC announced the hiring of a financial adviser to restructure the finances of the company. After July 2009, many layoffs occurred at TWC, and the release dates of some films were pushed back. On September 14, 2009, TWC sold its stake in Genius Products, which served as TWC's home video distributor from 2006 to 2009. Genius, however, had announced to exit the home video distribution business and the DVD rights that were distributed by Genius were sold to Vivendi Entertainment. TWC also struck a deal with Vivendi. The same year, it won a Peabody Award for The No. 1 Ladies' Detective Agency.