By Ryan Parsons | Image property of The Weinstein Company
The Weinstein Company
Ever since the creation of The Weinstein Co. by Bob and Harvey Weinstein, the brothers has been picking up new projects left and right. Some of these projects, such as Hoodwinked!, were a hit while others, *cough* Derailed, were not.
Either way, new projects for the studio meant more money from the Weinstein's. Therefore, the brothers decided they weren't going to be financially comfortable until they added another half billion to the piggy bank.
Weinstein Co. Gets Financing
According to Variety, The Weinstein Co. said Thursday that it has added $500 million in additional debt financing to the already impressive $490 million in equity that Bob and Harvey Weinstein raised last fall.
The Weinstein's must have been feeling a bit of a financial crunch and decided if they wanted to stick to what they do best it was better to get the money handled first.
Expressing gratitude to their partners, the Weinstein's said in a statement, "We can now concentrate on what we love most, making movies."
What kinds of movies you ask? Well, their upcoming slate includes Lucky Number Slevin, Breaking & Entering and Scary Movie 4. Not all of them are 'classics' but hopefully enough to keep the money train running.
When the brothers bounced on Miramax it was estimated that The Weinstein Co. would raise (need) a cool billion to start their own picture house. Fortunately for Bob and Harvey, the latest reports claim that they have raised somewhere near $1.2 billion.
What they should do now is throw a measley hundred-thousand my way as a bribe for extended film coverage and call it a day.