David Glasser Says He's Raised $300 Million for Post-Weinstein Studio
The former Weinstein Co. president-COO has enlisted the backing of Run Burkle and others.
Former top Weinstein Co. exec David Glasser is launching a $300 million indie studio with backing from billionaire Ron Burkle and other investors.
The new company, to be called 101 Studios, will focus on both television and film. It will officially launch later this week. 101 Studios has already set up an international sales division and is aiming to make four to six films a year.
Glasser will serve as CEO, while David Hutkin has been named COO.
One of the first projects 101 Studios is negotiating to acquire is The Current War, a former TWC film starring Benedict Cumberbatch and Michael Shannon. Glasser's company would take domestic rights.
Additionally, 101 Studios has closed on a $28.5 million television deal with Viacom for the first and second seasons of Yellowstone, the Taylor Sheridan modern-day Western drama starring Kevin Costner which just wrapped on its second season. Yellowstone airs on Viacom’s Paramount cable network and was the second-highest-rated drama program on cable in its first year.
Glasser did a long stint as president and COO of The Weinstein Co., serving as Harvey Weinstein's top lieutenant. He stayed with TWC following the downfall of Weinstein, but was let go by the board during the company's final days.
Glasser has a long-standing relationship with Burkle, who himself backed a bid to buy the assets of TWC. That deal ultimately fell apart.
In addition to Burkle, financiers of 101 Studios include Bob Yari, Marc Leder, Marvin Peart, Dan Schryer and East West Bank.