The division could be either sold to a strategic partner or
taken public, the newspaper said. (http://nyti.ms/1iXKa61)
Harvey Weinstein, Hollywood movie producer and co-chairman of
the independent studio, confirmed to the New York Times that he
was exploring the spinoff, but declined to discuss details, the
report said.
"It's not about needing anything," Weinstein told the paper over
telephone on Wednesday. "If anything, we're in the best
financial shape of our lives," he added.
However, people briefed on the plan told the paper that
Weinstein was seeking cash to finance a major expansion that
could include one or more new television channels.
The Weinstein Company, which was founded in 2005, is best known
for its low-budget, critically acclaimed films, such as
Oscar-winner "The King's Speech" in 2010 "The Artist" in 2011.
Reuters could not immediately reach Weinstein Co for comment
outside regular business hours.
(Reporting by Aurindom Mukherjee in Bangalore; Editing by
Gopakumar Warrier)
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