The Weinstein Co. gives control of over 200 films to Goldman Sachs in debt deal
In a crucial debt-restructuring deal first reported by The Wall Street Journal, The Weinstein Co. has agreed to hand over control of 200 to 250 films from its library to Goldman Sachs. The company, headed by brothers Bob and Harvey Weinstein, is reportedly paying off roughly $335 million in debt to its creditors, which will come via revenues from upcoming releases like Piranha 3D and Scream 4. Once the debt is paid off, the company could regain control of its library. It currently retains control of some 150 films.