Orion Pictures
Search results
Sony
- After the company shut down its assets were reorganized into the WEG Acquisition Corp, and are currently held by Sony, while the television rights are controlled by Paramount Pictures and under license to Trifecta Entertainment.
en.wikipedia.org/wiki/Weintraub_Entertainment_Group
People also ask
Who founded Weintraub Entertainment Group?
What happened to Weintraub's film assets?
Who is the current president of Weintraub?
Did Lumiere own Thorn EMI & Weintraub?
Will Weintraub file Chapter 11?
When did Harry Usher join Weintraub?
Film Asset Holding Co., a company formed by WEG's two primary bank creditors, sued Weintraub over his structuring of a sale of the Peter Pan story to Sony Pictures Entertainment in the fall of 1990. Weintraub and Film Assets settled in January 1992.
Lumiere owned a substantial library of films from the Thorn EMI Screen Entertainment/Weintraub library, representing a third of all films made in the UK from the beginning of silent pictures. Cazes then spun-off Lumiere's Los Angeles branch into a new company, Lumiere International.
- Overview
- History
- Production/release library
- References
Template:Infobox company Weintraub Entertainment Group (WEG) was a film production company considered to be a mini-major studio founded by Jerry Weintraub.
Weintraub Entertainment Group was formed on July 1, 1986 by Jerry Weintraub. In February 1987, WEG received $461 million in financing from Columbia Pictures, Cineplex Odeon and others in the form of securities, bank loans and advances. The Coca-Cola Company and US Tobacco Company were principal investors. WEG also arranged a $145-million, 7-year credit line with the Bank of America. WEG also signed a 20-year distribution deal with Columbia and planned to release seven or eight movies per year.
In March 1987, WEG signed its first production and distribution deal, a three-year agreement with Robert Stigwood's RSO Films for multiple films budgeted in the $12-million to $15-million range. With Stigwood's partnership, WEG was to finance a film version of Evita with Oliver Stone as writer/director and Meryl Streep as Eva Perón. However, the studio dropped the project.
WEG purchased from The Cannon Group in May 1987 its 2,000-title British film library, the Thorn-EMI Screen Entertainment library, for $85 million with $50 million from a loan. On July 20, Harry Usher joined the Group as President of the Weintraub International Enterprises division and as a senior vice president.
In January 1988, Barney Rosenzweig was hired as chairman of the television unit, corporate vice president and a member of the executive committee. In July, the Bank of America terminated its credit line with Weintraub after difficulties in syndicating parts of the loan to other banks due to the Thorn-EMI loan. The Group's first release was The Big Blue in August; it grossed $1.6 million the opening weekend.
In January 1989, Usher left his position as President of the Weintraub International Enterprises. The Bank of America and WEG established a new credit line for two years and $95 million with Credit Lyonnais participating.
In 1989, as a result of Sony/Columbia hiring Peter Guber and Jon Peters away from Warner Bros., Sony/Columbia traded its 15% share in WEG.
•The Big Blue (1988): distribution rights, $3 million
•Fresh Horses (1988): first original production, grossed only $7 million
•My Stepmother Is an Alien (1988): $26 million budget, grossed $13.8 million
•The Karen Carpenter Story (1989): a TV movie release on CBS
•Listen to Me (1989)
•She's Out of Control (1989)
1.Cieply, Michael (January 11, 1989). "Weintraub's Worries : Box-Office Flops Add to Woes of Flashy 'Mini-Major'". Retrieved on 2 July 2012.
2."Cannon sells its Film Library", Reuter (April 5, 1987). Retrieved on 7 July 2013.
3."Weintraub Entertainment and RSO reached a pact", Los Angeles Times (March 27, 1987). Retrieved on 2 July 2012.
4.Greeberg, James (19 November 1989). "Is It Time Now to Cry for 'Evita'?", The New York Times.
5.Knoedelseder Jr., William K. (August 7, 1987). "Cannon Group Loses $9.9 Million in Quarter". Retrieved on 2 July 2012.
6."Usher Named Division Head at Weintraub" (July 12, 1987). Retrieved on 2 July 2012.
Jul 7, 2015 · Weintraub failed in one of his most ambitious gambits. His attempt to found his own studio, Weintraub Entertainment Group, ended in bankruptcy after three years.
Weintraub Entertainment Group [55] – filed for bankruptcy in September 1990, resulting in the company folding up operations; the library is now owned by Sony Pictures (through Columbia Pictures), with Paramount Global (through Paramount Pictures) owning television and streaming distribution rights.
May 24, 1987 · Suddenly, Weintraub is making a bid to put his personal stamp on Hollywood much as his hero, Irving Thalberg (the model for F. Scott Fitzgerald’s “The Last Tycoon”), did five decades earlier....
On July 20, Harry Usher joined the Group as President of the Weintraub International Enterprises division and as a senior vice president. [8] In January 1988, Barney Rosenzweig was hired as chairman of the television unit, corporate vice president and a member of the executive committee.
