Weinstein Company Possibly Not So Great on Money Right Now

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Photo: Getty Images

So we guess winning both actress Oscars doesn't come with a cash prize. Over the weekend, The Wall Street Journal, Nikki Finke, and the L.A. Times reported that the Weinstein Company has hired financial adviser Miller Buckfire & Co. to "help restructure its debt and raise money to cover its operating costs." In a statement released to all three, TWC says, "As a matter of practice we have always worked with financial institutions to explore our options with respect to equity and possible investments and it is something we will continue to do." As Finke's source notes, though: "You don't hire Miller Buckfire to raise money. You hire Miller Buckfire because they are one of the top restructuring experts in the country. They currently represent several top institutions going through bankruptcy." Admittedly, we know nothing about finance, but we bet if Harvey can move enough debt around to get the company past Nine's release this fall and through to next February, he should be able to unload some Academy Awards on Cash 4 Gold, at least.

Weinstein Co. Hires Firm to Explore Restructuring [WSJ]
Weinstein Co. hires consulting firm to restructure its debt and raise funds [LAT]
The Weinstein Company To Restructure [DHD]