Global InformationThe Weinstein Company information
 | |
| Company type | Private |
|---|---|
| Industry | Film |
| Predecessor | Miramax |
| Founded | March 10, 2005 |
| Founders | Bob Weinstein Harvey Weinstein |
| Defunct | July 16, 2018 |
| Fate | Chapter 11 bankruptcy |
| Successors | Studio: Lantern Entertainment Library: Lionsgate Spyglass Media Group |
| Headquarters | 99 Hudson Street, New York City, New York , US |
| Products | Feature films |
Number of employees | 150 (2018) |
| Subsidiaries | The Weinstein Company Home Entertainment Dimension Films Dimension Home Entertainment (post-2005 titles only) Dimension Extreme Dimension Television Weinstein Books Dragon Dynasty Mizchief TWC-Dimension RADiUS-TWC Kaleidoscope-TWC The Miriam Collection |
| Footnotes / references [1][2] | |
The Weinstein Company, LLC (usually credited or abbreviated as TWC) was an American independent film studio, 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 as well as in the United States. 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.[3] Co-founder and chief executive Bob Weinstein previously owned a small stake in the company.[4]
The company dismissed joint founder and chief executive Harvey Weinstein in October 2017, after over 100 women came forward to accuse him of sexual harassment, abuse, assault, or rape.[5]
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.[2][6] 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.[7][8] On March 6, 2018, the acquisition deal collapsed again after the studio had an extra debt of US$50 million revealed.[9] The company filed for Chapter 11 bankruptcy on March 19, 2018.[10] On May 1, 2018, Lantern Capital emerged as the winner of the studio's bankruptcy auction.[11]
- ^ "Harvey Weinstein's NYC Office Cleared Out, Report Says". October 31, 2017. Archived from the original on June 20, 2018. Retrieved June 20, 2018.
- ^ a b Barnes, Brooks (February 26, 2018). "Weinstein Co. Will File for Bankruptcy After Deal Talks Collapse". The New York Times. Archived from the original on February 26, 2018. Retrieved February 26, 2018.
- ^ "Distributor report cards". Film Journal. Archived from the original on October 24, 2014. Retrieved July 28, 2014.
- ^ Twohey, Megan (October 8, 2017). "Harvey Weinstein Is Fired After Sexual Harassment Reports". The New York Times. Archived from the original on October 8, 2017. Retrieved October 9, 2017.
- ^ Barnes, Brooks (October 17, 2017). "Harvey Weinstein, Fired on Oct. 8, Resigns from Company's Board". The New York Times. Archived from the original on October 23, 2017. Retrieved October 24, 2017.
- ^ Perry, Spencer (February 26, 2018). "The Weinstein Company to Declare Bankruptcy After Sale Talks Fail". ComingSoon.net. Archived from the original on February 26, 2018. Retrieved February 27, 2018.
- ^ Faughnder, Ryan (March 1, 2018). "Former Obama administration official has reached a deal to buy Weinstein Co. assets". Los Angeles Times. Archived from the original on March 2, 2018. Retrieved March 2, 2018.
- ^ Chmielewski, Dawn (March 2, 2018). "TWC Board, New York AG Confirm Maria Contreras-Sweet Group Has Acquired Weinstein Company Assets". Deadline Hollywood. Archived from the original on March 2, 2018. Retrieved March 2, 2018.
- ^ Barnes, Brooke (March 6, 2018). "Planned Sale of The Weinstein Company Collapses Again". The New York Times. Archived from the original on March 21, 2018. Retrieved March 21, 2018.
- ^ "Weinstein Company files for bankruptcy". BBC News. March 20, 2018. Archived from the original on March 20, 2018. Retrieved March 20, 2018.
- ^ Chmielewski, Dawn (May 1, 2018). "Weinstein Company Declares Lantern Capital The Winner Of Bankruptcy Auction, Rival Bidder Responds". Deadline Hollywood. Archived from the original on May 3, 2018. Retrieved May 6, 2018.