2ND UPDATE: Weinstein Co Money Woes: Will 'Inglorious Basterds' Be Affected?

(Keep refreshing for breaking news): I’ve just learned that representatives for Inglorious Basterds have scheduled a phone call today this week with Universal Pictures to discuss The Weinstein Company’s financial problems which are being splashed all over the media. Right now, everyone is still operating on the premise that TWC can come up with the $30 million or moreo marketing money budgeted for Inglorious Basterds. But that was before news came out that The Weinstein Company is on the brink (amid rumors the end could come in August) intenwsified by last week’s bad news that TWC has hired a financial advisory firm to restructure. The deal for Inglorious Basterds had always been a 3-way financial partnership among Quentin Tarantino, The Weinstein Company, and Universal. But a worst case scenario was always considered by Quentin’s people: What if TWC which has domestic didn’t have the resources to market and/or release the movie? Universal has foreign. Would it pick up the North America as well? Meanwhile, Universal is the distributor of the valuable domestic DVD rights on behalf of the 3-way partnership. But now I’ve learned that Genius may kick up a fuss.

That’s not all. Film financing sources tell me that, at one point, The Weinstein Company had scheduled for release the movie All Good Things for July 24th. This would have been the indie’s first pic out since February. But now TWC will be pushing that film to the 4th quarter, which prompted talk that TWC “doesn’t have the P& A to release it” and “is are worried about the financial results of its distribution”. Not so, says an insider with the production. It won’t be delivered until fall “for reasons having nothing to do with the Weinsteins”. Of course, this info was relayed to me after the Weinsteins placed a call to someone connected to the pic. I’m told “the movie is really strong. We just needed more time to complete it.” Groundswell Productions financed the movie but is depending on TWC for marketing and distribution.

TWC also had scheduled Shanghai, a $50+ milllion production, for release on September 4th. One of my sources explains,  “They will push that film to another date in the distant future.” There is also word internally that they may push off Youth In Revolt, currently scheduled for October 30th, into the distant future. What this all means is that TWC is “hoarding whatever cash they have left to be able to release Inglorious Basterds,” a film financer analyzes. Tarantino’s film is scheduled for release August 21st.