MGM and Weinstein Co. Call It Quits!
The two companies decided to exit the distribution agreement after The Weinstein Company (TWC) signed its own TV deal with Showtime, bypassing MGM's Showtime deal, which was the main reason for the pairing initially. Under the distribution deal, TWC paid for marketing and prints, with MGM taking a distribution fee for booking theaters.
The two companies made the following statements:
The Weinstein Company: "This transition was always anticipated and now it has been amicably executed."
MGM: "When it became clear that the deal wouldn't be re-upped, TWC asked for its films back, minus the two Dimension titles, and we agreed."
You can read the rest of this interesting industry news over on Variety.
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