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Company Owned by a Real Hollywood Character–Who’s an Academy Award and Tony Award Winning Producer–Buys 25% of Cable Programmer Starz

Jan 4, 2011  •  Post A Comment

A company owned by a genuine larger-than-life Hollywood character–who is an Academy Award and Tony Award winning producer–has purchased a 25% interest in Starz, the Associated Press reports (though the story is on the Bloomberg site).

We’re referring to Harvey Weinstein and The Weinstein Company, run primarily by Harvey and his brother Bob. The two previously ran Miramax.

According to the story, besides buying the 25% interest in Starz, the deal included  "Starz’s Anchor Bay Entertainment division pick[ing] up the DVD, Blu-ray and Internet streaming rights to The Weinstein Co.’s movies, which includes theatrical releases from Dimension Films."

According to the article, the Weinstein brothers said in a statement, "We hope this strategic partnership is a first step in not only making Anchor Bay a home for our product, but in potentially housing other companies’ product as well, giving quality independent films the kind of care needed in today’s marketplace,"

The story goes on to say, "Starz helped increase the popularity of Netflix’s then-fledgling video streaming service in 2008 when it licensed much of its content for $30 million annually….With Internet streaming becoming more popular, Starz is expected to demand substantially more money from Netflix when their current deal expires in October. BTIG analyst Richard Greenfield predicted Monday that Netflix might have to pay about $300 million per year to retain the Starz streaming rights. [The current deal is for $30 million annually, the story  says.] He thinks Netflix might even try to buy Starz."

  

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