Archive

Weinstein Bros in Trouble?

Big Shots

Harvey and Bob’s company seeks restructure.

Nine has tanked at the box office: Could it bring Harvey and Bob Weinstein down along with it? The New York Post reports that the brothers who run Weinstein Co. are considering several deals to restructure their finances so they can repay creditors. They owe Goldman Sachs $500 million. The company that has insured that debt, Ambac, is having financial troubles and is unlikely to be able to repay the debt in full. The studio’s current assets are likely worth less than that amount. The company had hoped that Nine would gross enough money to generate to cash to fund continuing and new productions, but it took in just $7 million at U.S. box offices last weekend.

Read it at New York Post