Wednesday, December 30, 2009

Is Harvey In Trouble Again?

According to The Post, Harvey is in trouble again. Sources say, that the Weinstein Company has enlisted the aid of outside financial sources that have nothing to do with movies, to help out the under-pressure studio. Something tells me that the Weinsteins will get out of this jam, just like they always have. Read some of it yourself after the jump:


The Weinstein Co. is considering several deals to restructure its finances in order to improve liquidity and repay creditors, The Post has learned.

According to several sources familiar with the matter, The Weinstein Co. is in talks about an "off balance sheet slate deal," in which an equity player would provide cash to help finance future productions.

Another option is the creation of an "acquisition fund," through which brothers Harvey and Bob Weinstein could access a pool of cash to buy projects at film festivals, for instance.

The discussions have taken on more urgency given the weak opening of "Nine," the musical starring Penelope Cruz, Nicole Kidman and Daniel Day-Lewis: The movie took in a disappointing $7 million at the box office last week.

The studio was banking on "Nine," along with "Inglourious Basterds," which has grossed more than $300 million worldwide, generating enough cash to fund ongoing and new productions, sources said.

"They were hoping 'Nine' would do 'Chicago'-like numbers," said a source, referring to the 2002 musical that Harvey produced and that grossed $170 million domestically and won Best Picture at the Academy Awards.

Read the full piece HERE.

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