Paddington 2
The Weinstein Company is trying to sellPaddington 2before the fellowship file for bankruptcy . It ’s been nothing but spoiled tidings for the Weinstein Company in the wake of the turmoil cause by financial troubles and theouster of co - father and chairman Harvey Weinsteinafter thesexual assault allegations pin on him . While the fallout continues to be mostly bring down squarely on Weinstein himself , there ’s no denying that his problemsareTWC ’s problems ; he essentially is the company and his remotion will have a big impingement on its future .
Yet , The Weinstein Company was flounder long before Weinstein ’s gross abuse of power came to light . It was once the ducky of the indie scene , a mini - major studio apartment that made indie movies cool and that seemed to haul in awards hand over clenched fist . But increased competition from the indie movie divisions of major studios , small-scale distributors like A24 , and a studio landscape that has largely shifted to tentpoles has found TWC ’s destiny dwindling over the years . In July of last class the grumbling of fiscal trouble have so bad that the studio apartment had to refute claim it was in dire straits , financially . With the rumors of long - running financial problem andmultiple cooperator jumping shipwith a Weinstein brand name that has been destroy , it ’s left many to marvel what will happen to the Weinstein Company ’s ticket of unreleased movies . Now it seems we have an idea of what the design is for at least one of those flick presently under TWC ’s world .
Varietyis reporting that the studio is shopping aroundPaddington 2for potential buyers in the Bob Hope of getting it unload prior to filing for Chapter 11 bankruptcy protective cover , which is ponder to be happening as betimes as this week . TWC has the domestic distribution rights for the subsequence , which was discharge in the UK this past weekend and yield a banging $ 10.8 million . The hope is that that massive opening will entice potential studio buyers who could be interested in picking up the statistical distribution for a movie that has already proven to be a succeeder with a particular overseas consultation .
According to the news report , Sony is the likeliest candidate to land the right hand , but nothing is position in stone . Sony has been harass by its own financial issues in the last few years and it ’s reportedly hesitant about the tangled legal rights that palisade the flick . It ’s been further exacerbated by the fact that both Heyday Films and StudioCanal , the film ’s angel , have publicly stated they need to break up statistical distribution ties for the film with The Weinstein Company as they no longer need the crime syndicate friendlyPaddingtonbrand associated with Weinstein . While they have to honour the declaration for the consequence , the backers can regain the distribution rights should TWC go venter - up , and you ’d have to recollect they ’d prefer to make a distribution deal themselves rather than having the money and final decision go to The Weinstein Company .
Paddington 2distribution issues aside , it ’s look bleak for Harvey and Bob Weinstein ’s company as it continues its farseeing capitulation from grace . The instrument panel of music director have reportedly been in talk with two dissimilar investing groups regarding a potential bridge circuit loanword of $ 20 - 35 million to help fulfill its payroll obligations , but inside source say that loanword is not probable to go through . The issue is that that nosepiece loan would rely on using TWC ’s depository library of picture for collateral , but that library is already mortgaged to a heavy degree and it would be a legal quagmire should the Weinstein Co. have to file for failure . With a rumored $ 500 million in debt and obligation and Weinstein shoppingPaddington 2 , once seen as the savior of the studio ’s fortunes , it ’s looking increasingly potential that news of a Chapter 11 filing will break in the near future .
Update : Warner Bros. picked up the right toPaddington 2 , and will be distributing the film in the U.S.
Next:What Happens Now to The Weinstein Company’s Movies?
Source : Variety
