Tuesday, January 19, 2021

WEINSTEINS PLANNING ON SPINNING-OFF THEIR TV DIVISION

July 3, 2014 by · Leave a Comment 

Harvey Weinstein is planning to spin off the Weinstein Company’s TV division and sell all or part of it to a "digitally minded corporate giant like Yahoo, Amazon or Google" or taking it public and using the cash to expand the TV business, the New York Times reported today (Thursday). In an interview with the newspaper, Weinstein confirmed the plan but refused to discuss the details. Only seven months ago, Weinstein announced that the company was planning a major foray into TV production, but, as the Times indicated, with few exceptions "much of its television business is still prospective." Although there has been much speculation that Weinstein might take the entire company public, the Times, citing people who have been briefed on his plans, said that he has concluded that a spin-off plan that focused on TV would have a friendlier reception from investors or potential strategic partners.