The fate of the Weinstein Company is in question now that Harvey Weinstein’s future is a mystery.
Weinstein was suspended from the decades-old business he created this week after the New York Times published a bombshell report detailing sexual harassment allegations against the Hollywood honcho, including a direct account from actress Ashley Judd.
The company has long been a staple in the Hollywood movie-making business, landing 26 Best Picture Oscar nominations over the past 28 years, with the most recent being “Lion” earlier this year.
Now that Harvey has taken a back seat at the company, movie-lovers are left wondering what will happen to The Weinstein Company (TWC), which backed and distributed such monumental films like Quentin Tarantino’s “Django Unchained” (2012) and “Inglorious Basterds” (2009) and the Academy Award-winning “Shakespeare in Love” (1998). Weinstein was also behind Tarantino’s “Pulp Fiction” (1994) and “Kill Bill” (2003) while still running Miramax.
Some of The Weinstein Company’s most critically-acclaimed productions include, “The Master,” “The King’s Speech,” “Silver Linings Playbook,” “The Artist” and “The Imitation Game.”
The film pros certainly slowed down last year — having just six noms for one film compared to a year like 2013 where TWC had a whopping 16 nominations for “Silver Linings Playbook,” “Django Unchained” and “The Master.”
TWC’s financial issues are said to be the reason the company’s been having trouble churning out high-earning pictures, even before The Times published the explosive piece on the allegations against Harvey, according to Variety.
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The most recent net worth listed for TWC was $ 150 million in 2015, Forbes reported, which isn’t much for a business backing films grossing in the billions.
Weinstein Co.’s most recent box office success was “Wind River,” which grossed $ 32 million in August after the company acquired it for a mere $ 3 million at Sundance Film Festival.
The business relies on acquisitions to keep it running steady, according to Variety, which reports the division has been running at an extremely low level this year. In 2016, the company’s six films brought in a total of $ 76.5 million, according to Box Office Mojo.
TWC saw a big bump in its gross income last year because of “Lion,” but some of the company’s upcoming projects are more rom-com than Oscar nom.
The company announced some high-profile sequels to some of their great films, including a follow-up to “Shakespeare in Love” and the third volume of “Kill Bill.”
Another attempt at riding the nostalgia train is a remake of “She’s All That,” which starred Freddie Prinze Jr. and Rachael Leigh Cook.
On the slate for 2017, Weinstein Co. has “Amityville: The Awakening” – timed perfectly to Halloween on Oct. 28, “Polaroid,” a horror flick due out Nov. 22 and “The Current War” (Nov. 24), a biopic drama about inventors Thomas Edison, George Westinghouse and Nikola Tesla, starring Benedict Cumberbatch, Nicholas Hoult, Michael Shannon and Tom Holland.
“The Current War,” along with the sequel to “Paddington,” a “Mary Magdalene” religious film and the Kevin Hart movie, “The Upside,” all fell under Harvey’s umbrella at the company. The films each have 2018 release dates.
Other films announced by the Weinstein Company include “Knight Rider” and “The Six Billion Dollar Man.”
The Weinstein Co. recently joined the rest of Hollywood in looking at TV as a serious option. Several TV projects are listed on the docket for the business, including David O. Russell’s untiled Amazon series starring Robert De Niro, and two Paramount series: “Waco,” starring Taylor Kitsch and Michael Shannon and “Yellowstone” with Kevin Costner.
Staying true to the company’s roots, they have on deck a “Spy Kids” sequel and “Spy Kids” TV series -– a franchise which was first launched while Harvey’s brother Bob Weinstein was running Dimension Films over at Miramax.
Harvey and his brother Bob first got into film production in 1979, when they formed their first venture, Miramax Studios. They later sold the company in 1993 to Disney for $ 80 million dollars and remained at the helm until forming in 2005 what is known today as The Weinstein Company.
Despite launching the biz with a $ 1 billion investment from Goldman Sachs and producing multi-million dollar grossing flicks — the brothers made some bad business decisions early on that prove their net worth today isn’t as great as one might think, according to Forbes. Big bucks or not, the movies the Weinstein brothers have attached themselves to were worthy enough to make them powerful deciding forces in the industry.
If Weinstein were to never return to the Weinstein Co., many producers with movies and TV shows tied to them could just move on and continue their projects somewhere else.