Weinstein Co. to file for bankruptcy

[ctujackbauer]

Link to Deadline article about Weinstein Co bankruptcy preparation

This isn't about that one guy, but it looks like one of the bigger studios to file for bankruptcy since Orion Pictures (which is now revived, sorta).

No word yet on what happens to any digital HD locker versions of movies you already own. We've had studios that go under not release digital versions of movies from their back catalog, but never a studio that went under after a digital version was released and we technically own it.

Also no word yet on what happens to movies that were in the process of being released, but were scuttled and moved to later dates, such as: The Current War, Polaroid, The Six Billion Dollar Man.

[#Darren]

Don't worry, they'll all walk away multi millionaires.

[CyberpunkCentral]

Good Riddance - YouTube

[Zero_Cool]

Didn't this happen once before? Maybe it was one of their side studios.

[Worship.my.wreck]

I completely forgot about Polaroid. I actually wanted to see that one.....

[CyberpunkCentral]

Originally Posted by Worship.my.wreck

I completely forgot about Polaroid. I actually wanted to see that one.....

The Sound of Silence (Original Version from 1964) - YouTube

[crude]

Thats dumb. They just need to change their companys name to something else not ending in STEIN.......

[mwynn]

Originally Posted by crude

Thats dumb. They just need to change their companys name to something else not ending in STEIN.......

Did you read the article?
Without a backer the company is going to be sued into oblivion.

The fund set aside by the potential new owners of The Weinstein Company to compensate victims of Harvey Weinstein’s alleged sexual misconduct has more than tripled today as part of discussions with the New York Attorney General’s office.

Changing the name of the company will not help if you have zero funds to run said company.

[CyberpunkCentral]

Wasn't The Weinstein Company already before the scandal? Jubba The Hutt probably only made it worse.

[mwynn]

Originally Posted by CyberpunkCentral

Wasn't The Weinstein Company already before the scandal? Jubba The Hutt probably only made it worse.

For Sale?
2015 http://deadline.com/2016/02/weinstei...-a-1201708350/

2017 http://deadline.com/2017/10/bob-wein...nt-1202188121/

Reading this you start to see a pattern. People came in and left, then came back. Things are for sale and then they are not. They knew this company was in trouble and ignored it.

[xbs2034]

I feel bad for the regular employees who probably didn't know about the misconduct there and will now lose their jobs, the films now in limbo and facing huge delays if not being outright shelved, and the victims who lose access to a potential fund.

The sad thing is as usual the Weinstein Board, who seem to have absolutely brought this on themselves, will probably end up best out of all on this (sure they won't get the millions coming their way in a sale, but they have a lot more going for them than the other employees).

As for digital versions of the old movies, as long as you already have it, it should still stay. This is what happened when Relativity Media went bankrupt (and their titles are no longer granted UV rights for instance, but stayed in UV lockers of those who got them before) and also what has happened when rights to other movies switched studios (ultimately I imagine the Weinstein Company catalog will be auctioned off and sold to the highest bigger either collectively or for individual films, whatever raises more money for creditors), though they may become unavailable for sale if you don't own it.

[Drifter]

Maybe there's a silver lining in that we can get the rights to The Fall of the Roman Empire and El Cid out of the clutches of the Weinsteins in the U.S. and with someone who will actually release these on blu.

[phobicsquirrel]

Am entire company going under over a couple people? That's just wrong.

[fatediesel]

Originally Posted by ctujackbauer

Also no word yet on what happens to movies that were in the process of being released, but were scuttled and moved to later dates, such as: The Current War, Polaroid, The Six Billion Dollar Man.

The Weinstein Company sold the rights to The Six Billion Man to Warner Brothers in December.

[UltraMario9]

Hopefully someone buys the right to The Immigrant.

I wonder where Tarantino's films will end up. Sony probably (hopefully).

[CampArgyll]

Originally Posted by UltraMario9

Hopefully someone buys the right to The Immigrant.

I wonder where Tarantino's films will end up. Sony probably (hopefully).

by that maybe only the ones TWC actually distributed in the US, such as Death Proof, Django Unchained (a film which the Sony owned Columbia released internationally) and The Hateful Eight, the others are owned by other companies without association problem, Lionsgate for Reservoir Dogs, Miramax (which has been independent from the Weinsteins since 2005) for Pulp Fiction etc. and Universal for Inglorious Basterds.

[mwynn]

Originally Posted by phobicsquirrel

Am entire company going under over a couple people? That's just wrong.

Read the articles the lawsuit is just the end of it. This collapse was coming sooner or later.

[Gacivory]

I know people who worked on some Wesinstein stuff, and they have been financially hurting for years. THis bankruptcy was coming with or without all the Weinstein stuff.

[Talleyrand]

Amazing what unproven allegations can do now.

#notme

[xbs2034]

Originally Posted by Talleyrand

Amazing what unproven allegations can do now.

#notme

While I totally agree that the "trial by social media" bandwagon on unproven sexual misconduct allegations is worrying, this is a pretty clear case.

Given the overwhelming number of women who've come forward, people who've corroborated their accounts as well as other elements related to the allegations, the numerous harassment lawsuits Weinstein settled, the audio recording of Weinstein's predatory behavior made as part of a sting operation, and the civil rights lawsuit the New York Attorney General just filed in relation to the Weinstein Company and their complicity in this behavior (which was what sunk the deal they were closing in on to sell the company and forced the bankruptcy), there is a ton of evidence against Weinstein.