Rainbow Inks Movies Deal With Weinsteins

May 19, 2005  •  Post A Comment

Cablevision’s Rainbow Media Holdings has inked a deal with Bob and Harvey Weinstein, under which Rainbow and the Weinstein brothers will co-own a movie library that will be distributed on television and home video.

Terms of the multiyear agreement were not disclosed, but both parties will split the venture’s profits 50/50. The Weinsteins’ new company, Weinstein Co., will select the titles, while Rainbow will fund them.

At the same time, Weinstein Co. will serve as the exclusive home-video distributor for Rainbow’s IFC Films unit and will act as exclusive sales agent for IFC Films’ products overseas. In addition, Rainbow will have first crack at the TV distribution of Weinstein Co. films. Rainbow owns cable networks IFC, AMC and WE: Women’s Entertainment.

The new deal comes just a few months after the Weinsteins split from the Walt Disney Co. in a highly public breakup that left the Miramax name and its film library with Disney. The Weinsteins, meanwhile, took with them the Dimension Films label.