Here’s the good news first: Universal and others around the making of Inglourious Basterds have confirmed to their satisfaction that The Weinstein Company has enough money to adequately release Quentin Tarantino’s latest oeuvre domestically next month. That means TWC has at least $30 million at its disposal. There’ve been questions about whether TWC has depleted all its cash reserves, especially because of the company’s financial problems and new attempt to restructure, but now those are resolved. By putting all its other movie releases on hold, presumably to hoard its cash, TWC is opening Inglourious Basterds on August 21st, and the reboot sequel of the Halloween horror franchise which the indie owns 100% a week later on August 28th.
Now for the bad news. Authoritative sources tell me that anyone who thinks Liberty Media’s Encore/Starz will come in as a white knight to make an investment in The Weinstein Company is very mistaken. There’s an article in today’s New York Post, whose business section unfortunately isn’t nearly as reliable now as it once was, theorizing from the Camp Allen conference that such a save could happen. “I can tell you that this is complete and utter bullshit, a non-starter, and nonsense from Encore and TCI’s perspective,” an insider tells me. “The writer was just ‘spun’ by Harvey Weinstein’s people.” TWC has hired Miller Buckfire to help restructure its debt and lower interest costs.
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