Sept 15 The Weinstein Co has terminated its 70
percent interest in home-video distributor Genius Products, the
New York Post reported, citing sources close to the situation.
The termination was due to the decision by Genius Products
to exit the home-video distribution business, the paper said.
On Sept 14, Genius Products agreed to sell exclusive
distribution rights to a collection of brands, including World
Wrestling Entertainment, Sesame Street, Classic Media and RHI
Entertainment, to Vivendi Entertainment (VIV.PA).
According to the paper, Weinstein, in turn, struck its own
deal with Vivendi, which will distribute Weinstein movies on the
Neither Weinstein noe Genius Products could be reached for
While it lost $400 million on paper, a source told the Post
Weinstein is "not out any money", as it got the bulk of the
stake in exchange for distribution rights to its movies and made
only a small financial investment in Genius.
Harvey and Bob Weinstein founded Weinstein Co after they
sold Miramax Films, the powerhouse studio behind such 1990s
movies as "Pulp Fiction" and "Shakespeare in Love," to Walt
Disney Co (DIS.N) in 2005.
(Reporting by Chakradhar Adusumilli in Bangalore; Editing by