Update - The Weinstein Company Completes Its $490 Million Equity Private Placement

Oct 24, 2005, 01:00 ET from The Weinstein Company

    NEW YORK, Oct. 24 /PRNewswire/ -- The Weinstein Company (TWC), the media
 enterprise launched this month by Bob and Harvey Weinstein, announced today
 that it has completed a $490 million private placement of equity. TWC has a
 significant number of well-known strategic, financial and individual investors
 among its equity holders, including affiliates of GLG Partners, Goldman, Sachs
 & Co., Perry Capital, Quinta Communications S.A., SOFTBANK CORP., TF1 S.A.,
 WPP, a Mark Cuban investment company, Vivi Nevo, and a Todd Wagner investment
 company, among others. The Weinstein Company's Co-Chairmen, Bob and Harvey
 Weinstein, are the founders and former Co-Chairmen of Miramax Films.
     Goldman, Sachs & Co. and Paul, Weiss, Rifkind, Wharton & Garrison LLP
 advised TWC on the transaction.
     TWC has begun to assemble a world-class Board of Representatives and has
 named as members Dirk Ziff, Chairman of Ziff Brothers Investments; Tarak Ben
 Ammar, Chairman of Quinta Communications S.A; Mathilde Krim, a biomedical
 scientist and leader in the battle against HIV/AIDS worldwide as well as the
 Founding Chairman and Chairman of the Board of American Foundation for AIDS
 Research (amfAR), a world renowned charity that the Weinsteins have been very
 active in since its inception; Andrew Metcalfe, an Advisory Director of
 Goldman, Sachs & Co.; and Richard Koenigsberg, CPA and Partner at Spielman,
 Koenigsberg & Parker, LLP;   Bob and Harvey Weinstein will serve as Co-
 Chairmen of TWC's Board of Representatives.
     Bob and Harvey Weinstein said in a statement, "This is an extremely
 exciting day for us. Twenty-six years ago, we founded Miramax and named it
 after our parents, Miriam and Max, and we want to continue to pay tribute to
 our parents by naming our new company after them, The Weinstein Company. We
 are thrilled with the important relationships we have formed with our
 investors over the past few months. We couldn't be happier with the members of
 the Board whom we will be working closely with on an ongoing basis, building
 and operating The Weinstein Company.  We have assembled an incredibly talented
 and dedicated team of executives and have the utmost confidence in all of
     A Goldman Sachs spokesperson said:  "We are very pleased to be a part of
 this exciting new venture and look forward to an ongoing relationship with The
 Weinstein Company."
     TWC will continue to own and operate the successful Dimension Films genre
 label, which was created by Bob Weinstein during the Weinsteins' tenure at
 Miramax. TWC will handle its own marketing and distribution of theatrical
 releases in the United States. TWC will be announcing its distribution in
 other media and markets in the near future.
     TWC is based in New York City and has offices in Los Angeles and London.
     TWC's first theatrical release is "Derailed," the highly anticipated
 psychological thriller from Mikael Hafstrom starring Jennifer Aniston and
 Clive Owen, which will open in theaters nationwide on November 11, 2005. Other
 upcoming theatrical releases include "The Libertine," starring Johnny Depp,
 Samantha Morton, and John Malkovich, which opens on November 23rd;
 "Transamerica," a compelling comedy starring 2005 Emmy Award winner Felicity
 Huffman from Desperate Housewives, which opens December 2nd;  "Mrs. Henderson
 Presents," the highly sought after film from director Stephen Frears starring
 Academy Award(R) winner Dame Judi Dench and Academy Award(R) nominated Bob
 Hoskins, which opens on December 9th; "The Matador," the hilarious black
 comedy, which was a smash hit out of Sundance and stars Pierce Brosnan, which
 opens on December 23rd; "Hoodwinked!," the first CGI animated film to be
 released by TWC with voiceovers by Glenn Close, Jim Belushi, Anne Hathaway,
 Anthony Anderson, and Xzibit, which opens on Christmas Day.
     The Weinstein Company was created by Bob and Harvey Weinstein, the
 brothers who founded Miramax Films Corp. in 1979.  The Weinstein Company is a
 multi-media company that officially launched on October 1st, 2005. Dimension
 Films, the genre label that began with Miramax, will also be included under
 The Weinstein Company banner. The Weinsteins are actively working on the
 production, development and acquisition of projects for The Weinstein Company.
 While at Miramax, the Weinsteins released some of the most critically
 acclaimed and commercially successful independent feature films of the past
 decade.  They received 249 Academy Award nominations and a record 16 Best
 Picture nominations over the past ten consecutive years. Some of these films
 include: "The Aviator," "Finding Neverland," "Chicago," "Gangs of New York,"
 "In the Bedroom," "Chocolat,"  "The Cider House Rules," "Shakespeare In Love,"
 "Life Is Beautiful (La Vita E Bella),"  "Good Will Hunting," "The English
 Patient," "Il Postino (The Postman),"  "Pulp Fiction,"  "The Piano" and "The
 Crying Game."
     The Weinsteins have acquired the following titles to be released by The
 Weinstein Company: "Decameron," "The Libertine," "Last Legion," "Young
 Hannibal," "Hoodwinked!," "Transamerica," "Nomad," "Outlander,"
 "Stormbreaker," "Lucky Number Slevin," and "Master of the Crimson Armor."
 Other titles to be released by The Weinstein Company include "Derailed," "The
 Matador," "Wolf Creek," "Mrs. Henderson Presents," "Kill Bill:NC 17," "Fast
 Track," "Breaking and Entering," "Scary Movie 4," "Sin City 2," "Pulse,"
 "Passion of The Clerks," "Killshot," "Come Closer," "Awake," "Unknown," the
 fourth movie in the Teenage Mutant Ninja Turtles Series, "School for
 Scoundrels," and "Grind House."  "Scary Movie 4" and "Killshot" are currently
 in production, and "Passion of the Clerks," "Awake," and "School for
 Scoundrels" are all expected to begin production in the next month.

SOURCE The Weinstein Company