Harvey and Bob Weinstein have reached agreement on an equityinvestment and a debt financing commitment for their new multi-media companyfrom New York investment bank Goldman, Sachs & Co.
In the latest of a string of announcements from the CannesFilm Festival, the Weinsteins also revealed a strategic relationship with TarakBen Ammar's Quinta and the acquisition of North American rights to three Quintaprojects.
Neither the size of the commitment from Goldman Sachs norother terms of the agreement were disclosed, but the Weinsteins said that theyand the bank would be working closely together to launch what is currentlyknown as the Weinstein Company in October of this year. (Under the terms oftheir separation agreement with the Walt Disney Company, Miramax founders theWeinsteins remain co-chairs of that company until September 30.)
In a statement, the brothers said: "We are thrilled withthis important relationship that provides us with the resources to produce andmarket the exciting slate of films that we have planned."
That slate has now been expanded by the Weinstein Company'sacquisition of North American distribution rights to three projects produced byDino de Laurentiis, Martha de Laurentiis and Tarak Ben Ammar.
Decameron, directed by David Leland, stars HaydenChristensen (Star Wars) and Mischa Barton (The OC) in a story ofItalian nobles during the Florentine Plague.
Last Legion, directed by Doug Lefler, stars ColinFirth and Ben Kingsley and will start production in August. It is the epictale of a warrior who must protect the young Caesar when ancient Rome falls tothe Goths.
Young Hannibal, directed by Peter Webber (Girlwith a Pearl Earring), is the prequel to the Hannibal Lecter series andtells the story of the character's formative years. It is based onThomas Harris' upcoming Lecter novel Behind the Mask.
Ben Ammar's Quinta put together financing for all threefilms, which have a combined budget of $185 million.
The precise nature of the strategic relationship betweenQuinta and the Weinstein Company was not revealed. But in the Weinsteinstatement, Ben Ammar, who is expected to join the new company's board ofdirectors, said: "I am excited to provide a strategic European link to this newventure."