Just this week, a very reliable source confided that The Weinstein Co may need to hold a fire sale or it could go out of business by August. Trouble is, we all have been hearing rumors that TWC may go under, and yet it stays afloat. But today the Wall Street Journal‘s Lauren Schuker reports that The Weinstein Co has hired financial adviser Miller Buckfire & Co to “explore possible restructuring or refinancing”. One of my sources confirms and notes, “You don’t hire Miller Buckfire to raise money. You hire Miller Buckfire because they are one of top restructuring experts in the country. They currently represent several top institutions going through bankruptcy.” In a statement, a TWC spokeswoman said: “As a matter of practice, we have always worked with financial institutions to explore our options with respect to equity and possible investments and something we will continue to do. This was an ordinary course we took at Miramax, The Weinstein Company and every business venture we have had in our 30 year career.” Other sources insist TWC has the money to market Inglorious Basterds, but it received very mixed reviews after its debut at the Cannes Film Festival. Last I heard, Harvey has successfully pressured Quentin Tarantino to edit down the nearly 3-hour pic.
The Weinstein Company To Restructure
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