June 6, 2009

Weinstein Co. eyeing financial changes

The U.S. film studio Weinstein Co. is exploring potential refinancing or restructuring with a financial adviser, people familiar with the situation say.

The unidentified sources said the Hollywood studio, which was responsible for the Academy Award winning film The Reader, is discussing possible financial changes with Miller Buckfire & Co. LLC, The Wall Street Journal said Saturday.

The discussion comes after the studio has failed to find great success with any of its recent releases, including films such as Zack and Miri Make a Porno and Vicky Cristina Barcelona.

Brothers Bob and Harvey Weinstein founded the Weinstein Co. in 2005 with financial backing from Goldman Sachs & Co.

The Journal said an unidentified Weinstein Co. spokeswoman confirmed the company was exploring possible investments.

As a matter of practice, we have always worked with financial institutions to explore our options with respect to equity and possible investments and something we will continue to do, the spokeswoman said in a statement.