Skip to: Content
Skip to: Site Navigation
Skip to: Search
TUESDAY, FEBRUARY 9, 2010
 |  Follow Newser on Twitter   Friend Newser on Facebook   Subscribe to Newser's RSS feeds   Subscribe to Newser emails Newsletters


6

Weinstein Co. in Trouble, Despite Success of Basterds

Company needs more hits to pull itself out of debt

Share

(Newser) – Inglourious Basterds’ success has provided a stay of execution for Weinstein Co., but the firm needs several more blockbusters like it to stay afloat, sources tell the Wall Street Journal reports. The 4-year-old company hasn’t released as many films as it thought it would, but it’s burned through its $1.2 billion in startup funding.

Barring a stream of big hits, the firm will need to raise $50 million in financing, the sources say. The company says it has enough resources to meet its obligations and release its slate of upcoming films, which includes promising properties like an adaptation of Cormac McCarthy’s The Road and one of the Broadway hit Nine. But it’s already failed to pay back a $75 million bridge loan, and it’s cutting 30 of its 120 employees.

Ron Meyer, president and COO of Universal Studios, walks with Harvey Weinstein, right, to the annual Allen & Co.'s media conference Thursday, July 10, 2008, in Sun Valley, Idaho.
Ron Meyer, president and COO of Universal Studios, walks with Harvey Weinstein, right, to the annual Allen & Co.'s media conference Thursday, July 10, 2008, in Sun Valley, Idaho.   (AP Photo/Douglas C. Pizac)
In this film publicity image released by The Weinstein Co., Brad Pitt is shown in a scene from,
In this film publicity image released by The Weinstein Co., Brad Pitt is shown in a scene from, "Inglourious Basterds."   (AP Photo/The Weinstein Co., Francois Duhamel)
In this film publicity image released by The Weinstein Co., Brad Pitt, right and Eli Roth are shown in a scene from,
In this film publicity image released by The Weinstein Co., Brad Pitt, right and Eli Roth are shown in a scene from, "Inglourious Basterds."   (AP Photo/The Weinstein Co., Francois Duhamel)
Harvey Weinstein, co-chairman of The Weinstein Company, talks on the phone at the annual Allen & Co.'s media summit in Sun Valley, Idaho, Thursday, July 9, 2009.
Harvey Weinstein, co-chairman of The Weinstein Company, talks on the phone at the annual Allen & Co.'s media summit in Sun Valley, Idaho, Thursday, July 9, 2009.   (AP Photo/Nati Harnik)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
2.9.10
It’s the Sex, Stupid   
2.8.10
For Me, Palin Scores
6 comments
VIEWING:
 
alkaseltzersammich
Sep 25, 09 11:30 AM CDT
They need a bailout. Reply
Vote up! Vote down!
-1
youngblood
Sep 25, 09 11:42 AM CDT
you are so right Nntd. I would rather have them have a bailout, at least we get entertainment then say the Banks who got a bailout and did nothing to pass it on to the consumer, oh I'm sorry, that's right, the banks raised the interest rates on our credit cards! Reply
Vote up! Vote down!
+5
polytricks
Sep 25, 09 12:56 PM CDT
How about no bailouts for anyone? If you make a bad choice, you pay the consequences. Reply
Vote up! Vote down!
0
IN RESPONSE:
RockyPneumonia
Sep 26, 09 10:14 PM CDT
...And, in the case of the banking system, without a bailout, if they make a bad choice, WE pay the consequences as the entire financial system falls apart. that's OK, though, because the important thing is for conservatives to remain ideologically pure.
Vote up! Vote down!
0
alkaseltzersammich
Sep 25, 09 1:49 PM CDT
I was clearly joking. Reply
Vote up! Vote down!
+3

View all 6 comments »

LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

8 Stories

tough luck, avatar

 Why Inglourious Basterds 
 Will Win Best Picture 

Tarantino's flick has the best shot at top Oscar

Dec 31, 09 10:15 AM CST

Why Inglourious Basterds Will Win Best Picture

Tarantino's flick has the best shot at top Oscar

(Newser) - Though everyone is buzzing about Avatar’s best-picture prospects, Tom O'Neil was an early predictor of Inglourious Basterds snagging the top Oscar prize—and now he’s defending his position. Even though it came out eons ago (in August), the disappointing performance of many much-hyped late-year films leaves Basterds in... More »

 Basterds' Opening Day 
 Is Tarantino's Best 

Aug 22, 09 1:22 PM CDT

Basterds' Opening Day Is Tarantino's Best

(Newser) - Harvey Weinstein can breathe a sigh of relief. Inglourious Basterds mowed down the competition at the box office yesterday with an estimated haul of $14.3 million, reports Variety. That makes it Tarantino’s best opening ever, and the second-highest R-rated opener August has ever seen—behind More »

 Weinsteins to Basterds: 
 Please Save Our Careers 

Fallen Miramax founders desperate for Hollywood comeback

Aug 16, 09 3:21 PM CDT

Weinsteins to Basterds: Please Save Our Careers

Fallen Miramax founders desperate for Hollywood comeback

(Newser) - Once Hollywood’s highbrow hitmakers, Bob and Harvey Weinstein are hitless, humbled, and hoping that a movie about Nazi-killers can save them, the New York Times reports. They once raked in Oscars by producing films like Pulp Fiction and The English Patient, but since leaving Miramax to start their own... More »

8 Stories

 
Harvey Weinstein • Miramax • The Weinstein Company • movie financing • financing • Inglourious Basterds • Bob Weinstein

from our news partners

Please wait, content is loading
Please wait, content is loading

Just For Laughs

Loading...