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Weinsteins Bank $230 Million for New Company

By Indiewire | Indiewire October 7, 2005 at 7:45AM

Bob Weinstein and Harvey Weinstein have raised $230.5 million from 18 investors for their new venture, The Weinstein Company, and are on track to hit the $420 million mark according to a Bloomberg report Thursday. Citing securities laws, TWC spokesperson Sarah Levinson declined to comment on the status of financing arrangements, other than to say that the Weinstein Company "is confident that it has the operational capacity and financial resources to successfully meet its goals and carry out its business plan." The Weinsteins said in a statement:
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Bob Weinstein and Harvey Weinstein have raised $230.5 million from 18 investors for their new venture, The Weinstein Company, and are on track to hit the $420 million mark according to a Bloomberg report Thursday. Citing securities laws, TWC spokesperson Sarah Levinson declined to comment on the status of financing arrangements, other than to say that the Weinstein Company "is confident that it has the operational capacity and financial resources to successfully meet its goals and carry out its business plan." The Weinsteins said in a statement:

"We are excited about our upcoming slate and feel renewed and energized to be officially launching The Weinstein Company on Monday and releasing the company’s first film, Derailed, on November 11. We feel humbled by the great successes we had in the past and look forward to all the exciting opportunities we have planned for the future."