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Weinsteins Announce Completion of $490 Million Equity Investment

Weinsteins Announce Completion of $490 Million Equity Investment

The Weinstein Company announced today that it has completed its $490 million private placement of equity. the company said this afternoon that it is working with a number of strategic, financial and individual investors, including GLG Partners, Goldman, Sachs & Co., Perry Capital, Quinta Communications S.A., SOFTBANK Corp., TF1 S.A., WPP, a Mark Cuban investment company, Vivi Nevo, and a Todd Wagner investment company, among others. Among its board are Dirk Ziff (Chairman of Ziff Brothers Investments), Tarak Ben Ammar (Chairman of Quinta Communications S.A), Mathilde Krim (a biomedical scientist and leader in the battle against HIV/AIDS worldwide as well as the Founding Chairman and Chairman of the Board of American Foundation for AIDS Research), Andrew Metcalfe (an Advisory Director of Goldman, Sachs & Co.), and Richard Koenigsberg (CPA and Partner at Spielman, Koenigsberg & Parker, LLP). Citing their excitement in making the announcement, Bob Weinstein and Harvey Weinstein said in their statement:

Twenty-six years ago, we founded Miramax and named it after our parents, Miriam and Max, and we want to continue to pay tribute to our parents by naming our new company after them, The Weinstein Company. We are thrilled with the important relationships we have formed with our investors over the past few months. We couldn’t be happier with the members of the Board whom we will be working closely with on an ongoing basis, building and operating The Weinstein Company.

Next up for the Weinsteins will be an announcement of its other distribution arrangements, with a home video/DVD deal anticipated. [Eugene Hernandez]

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