Weinstein Company Partners with Rainbow Media and IFC
by Brian Brooks
Miramax founders Bob and Harvey Weinstein have entered into a deal with Rainbow Media Holdings LLC, the programming wing of Cablevision, to create an acquisition fund and distribution arrangement between The Weinstein Company, and Rainbow. As part of the agreement, announced today, the Weinsteins will work closely with Rainbow's IFC.
Under the pact, the Weinsteins will acquire films for distribution, on DVD and television, and their company will also become IFC Films' home-video distributor and international sales agent. Both parties will share equally in the profits.
The Weinsteins will also handle home-video distribution of original programming by Rainbow's various cable networks, including the Independent Film Channel, American Movie Classics, WE: Women's Entertainment and the Fuse music-video network. Rainbow networks will have a first-look at the domestic broadcast premieres of films acquired via The Weinstein Company fund.
"At Miramax, my brother and I learned the power of film libraries and built an 800 title film library. We're going to do that again," said Harvey Weinstein in a statement. "This agreement with Rainbow puts us in a position to immediately begin that effort. I am deeply appreciative of the faith that [IFC's] Jim Dolan, Jonathan Sehring and Josh Sapan are showing in The Weinstein Company and I look forward to working together with them."