Weinsteins Line Of Credit

As has been reported here many times over, Harvey is back. After pushing through unlikely Oscar and awards season wins for the French silent film THE ARTIST, the Weinstein Company is planning for an ambitious season. Aside from new films coming down the pike from such trusted names as Quentin Tarantino (arguably the most famous filmmaker to emerge from the heyday of Miramax, the Weinsteins’ former company), the distributor has just secured a major line of credit that will put them in the driver’s seat for many years to come. The company has secured $225 million in financing for two new credit facilities with UBS and Union Bank. The facilities will allow the company to continue financing production and marketing for its upcoming slate of films rather than using its own cash. “These facilities are a tremendous contribution to the continued production and acquisition of the kind of award-winning content The Weinstein Company is known for, as well as an important part of our long term growth strategy, anchoring our overall financial strength,” COO David Glasser said in the statement. The company is currently in production on Quentin Tarantino’s next movie, the nouveau Western DJANGO UNCHAINED (which will be released in December) as well as highly anticipated new works from Paul Thomas Anderson (THE MASTER) and David O. Russell (SILVER LININGS PLAYBOOK)

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