AndreaGail
26th June 2010, 07:20 PM
The brothers are buying the film studio back from Disney – to whom they sold it for $80m in 1993 – as part of a complex restructuring which will see the firm's original financial backers repaid in movies.
Goldman Sachs – which began life convincing investors to buy the debt of small companies, and grew to become synonymous with some of the largest and most complex financial deals in the world – is taking control of up to 250 films alongside Assured Guaranty, the credit insurer.
Goldman has agreed to subtract $115m of the $450m debt owed by the Weinstein Company.
Titles included in the deal include Vicky Cristina Barcelona and the British hit Mrs Henderson Presents.
Miramax's classics include Pulp Fiction, Shakespeare in Love and The Crying Game, although the studio's output of blockbuster films has slowed in recent years, following Weinstein brothers' exit.
<a href=http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/7855021/Weinstein-brothers-pay-off-115m-of-debt-with-films.html> Link </a>
Goldman Sachs – which began life convincing investors to buy the debt of small companies, and grew to become synonymous with some of the largest and most complex financial deals in the world – is taking control of up to 250 films alongside Assured Guaranty, the credit insurer.
Goldman has agreed to subtract $115m of the $450m debt owed by the Weinstein Company.
Titles included in the deal include Vicky Cristina Barcelona and the British hit Mrs Henderson Presents.
Miramax's classics include Pulp Fiction, Shakespeare in Love and The Crying Game, although the studio's output of blockbuster films has slowed in recent years, following Weinstein brothers' exit.
<a href=http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/media/7855021/Weinstein-brothers-pay-off-115m-of-debt-with-films.html> Link </a>