The struggling Weinstein Co. has had to shed more jobs and cut back its number of releases, reports VARIETY [1]. Now the Weinstein Co. and Dimension Films will release four movies each per year, in addition to two acquisitions. The new round of layoffs will put the company's staff at the same level of mini-majors like Overture Films and Summit Ent.
This summer the company saw good box office performance for Quentin Tarantino's INGLOURIOUS BASTERDS, which has earned $111 million in the U.S. and $119 million oversees. The Weinstein Co. shares the profits with Universal on the film. In addition, Dimension's HALLOWEEN II has brought in good numbers in its four weeks in theaters, making $31.6 million thus far.
Recently, the Weinsteins sold their stake in home entertainment firm Genius Products to Vivendi.
The distributor has also been juggling its fall release schedule, moving comedy YOUTH IN REVOLT from October to Jan. 15, and THE ROAD from October to Nov. 25, the same weekend it will platform its big Oscar contender, musical NINE.
Links:
[1] http://www.variety.com/article/VR1118009053.html?categoryid=13&cs=1&nid=2562