Movies & TV / News

Lantern Entertainment Completes Acquisition of The Weinstein Company Assets

July 16, 2018 | Posted by Jeremy Thomas
The Weinstein Company

Lantern Entertainment has completed its acquisition of The Weinstein Company’s assets, to the tune of $289 million. Deadline reports that the new studio is now in the possession of TWC’s library of 270 films, unreleased movies and a host of scripted and unscripted television shows.

“Over the last several months, we have immersed ourselves in the formation of Lantern Entertainment,” Co-presidents Andy Mitchell and Milos Brajovic said in a statement. “Throughout all our conversations with employees, creatives and industry professionals, we re inspired by the collective commitment and support extended to the launch of our new company.”

The completed deal closes the book on The Weinstein Company after the many sexual assault and harassment allegations against Harvey Weinstein sent it into financial freefall. There were attempts at other financial rescues, including one by former Obama administration official Maria Contreras-Sweet and Yucaipa Co.’s Ron Burkle, but they fell apart and the company filed for bankruptcy. Lantern Entertainment was awarded the assets as the lone qualified bidder the assets.

The new studios assets include the lines of The King’s Speech, The Artist, Inglourious Basterds, Silver Linings Playbook, The Hateful Eight, Django Unchained and the Scary Movie franchise.