Word: weinstein
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Independent film fans need no introduction to Harvey and Bob Weinstein, the brothers who founded Miramax and its sister company, Dimension. From small, intimate films like sex, lies and videotape and The Crying Game to flashy game-changers including Pulp Fiction and the $300 million-grossing Chicago, the Weinsteins proved smart little pictures (as well as smart big ones) could find a wide audience if promoted properly. After leaving longtime corporate parent The Walt Disney Co. last year, the provocative pair have struck out on their own once more with a new boutique media concern simply called The Weinstein Company...
...Harvey Weinstein has a perfect ending in mind for Miramax Films, the company he and his brother Bob were forced to leave behind in 2005 when they departed the Walt Disney Co. after 12 colorful years. In Harvey's final scene, the two snag back the name from the media giant, which has turned Miramax into a déclassé, financially diminished Mouse brand. Harvey, the brash movie mogul who helped spin the low-budget indie-film trade into a booming business, doesn't need more wealth. And he's not pushing for another Academy Award. He won the hardware...
...siblings are heading a new entity called simply the Weinstein Co., which sounds relatively unflashy, although its grand ambitions dwarf anything the pair did at Disney. Movie production and acquisition still form the backbone, but the Weinstein Co. is positioned more as a diversified boutique media company encompassing home video, cable television, Broadway theater, book publishing, video games and, of course, the Internet. With dozens of projects under way, the Weinsteins estimate that they'll break even next year, turn a profit in 2008 and probably launch an IPO by the decade...
...have made more big deals than big movies. "Our meetings used to be about acquiring films. Now they're about acquiring companies," Bob recently told Harvey, only half-joking. They got 70% of publicly traded home-video label Genius Products in exchange for licensing the DVD rights to Weinstein movies--a "pretty radical" move, says Genius chairman Stephen Bannon. Genius distributes material from World Wrestling Entertainment, Discovery Kids and ESPN and in November signed an exclusive rental agreement with Blockbuster. Other affiliations include ownership of a small arts and entertainment channel with Hubbard Broadcasting, J.P. Morgan Chase and Perry Capital...
...only money. The real prize lies in the pursuit of power, innovation and, of course, approval from Mom. Miriam Weinstein, 80, is still upset with Disney for not allowing her sons to take back her namesake banner. Maybe if her boys do well this time around, they could just buy Disney instead...