Weinstein Co. considering restructuring
Report: Studio hires investment adviser Miller BuckfireMovie studio The Weinstein Co. has hired investment adviser Miller Buckfire & Co. LLC to explore possible restructuring or refinancing, the Wall Street Journal said, citing people familiar with the matter.
The company, which was behind the Holocaust drama "The Reader," was created by brothers Bob and Harvey Weinstein in 2005.
To start Weinstein, the brothers secured Goldman Sachs as a financial backer of the new venture, and at the time were looking to raise as much as $1 billion in financing, including $500 million in equity and $500 million in debt. But the company has not got off to a strong start, according to the report.
A company spokeswoman said that "as a matter of practice" Weinstein has always worked with financial institutions "to explore our options with respect to equity and possible investments. It's something we will continue to do," she said.
Miller Buckfire was not immediately available for comment.
(Reporting by Aarthi Sivaraman in New York and Gina Keating in Los Angeles)